Air France-KLM and Lufthansa have submitted improved final offers for a stake in TAP Air Portugal, closing the last bidding phase in Portugal’s partial privatisation of the airline. The two groups are competing for up to 49.9% of TAP, with Lisbon and the carrier’s long-haul network central to the strategic choice now facing the government.
Portugal’s state holding company Parpública will assess the revised proposals and forward its report to ministers, who are expected to select a preferred bidder by mid-October. The process has been narrowed to the two airline groups after a negotiation round aimed at sharpening the commercial and strategic terms of the sale.
The government is weighing not only the purchase price but also commitments on investment, fleet development, maintenance, sustainable aviation fuel, labour obligations and future network strategy. TAP’s role as a hub carrier linking Europe with South America and the South Atlantic remains a key factor in the decision, which will still require further formal approvals after the preferred bidder is chosen.