Airlines Bid for TAP Air Portugal Stake

Air France-KLM and Lufthansa submitted binding bids on Wednesday to buy a controlling stake in Portugal’s state-owned carrier, TAP Air Portugal.

The Portuguese government launched the privatisation process last September, seeking a major international airline partner to acquire up to 49.9 per cent of the company.

Officials expect to finalise the sale between late August and early September as they return the national carrier to private ownership following its 2020 pandemic renationalisation.

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Air France-KLM aims to buy between 44.9 and 49.9 per cent of TAP, pledging to transform Lisbon into its primary Southern European hub to expand routes across the Americas and Africa.

Airlines bid for the TAP Air Portugal stake (News Central TV) — Airlines bid for the TAP Air Portugal stake. Credit: Reuters

Lufthansa similarly emphasised establishing Lisbon as a strategic hub for South Atlantic travel, though the group withheld specific stake percentages and purchase offers.

The sale will determine the future of the carrier, which operates a 100-plane Airbus fleet and employs 7,700 staff.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.