The Portuguese government has initiated talks with Air France-KLM and Lufthansa regarding the privatisation of TAP Air Portugal. This move follows the submission of binding offers from both airlines, which are vying for a 44.5% stake in the national carrier. The Minister of the Presidency, António Leitão Amaro, indicated that while the bids differ, their valuations are closely aligned, prompting negotiations to secure better proposals.
The privatisation process, relaunched in 2025, has seen the competition narrowed to these two bidders after the exit of International Airlines Group. The government aims to select a single investor for final negotiations, with the potential for joint management of TAP starting in 2026. However, any capital injection from the chosen bidder is not expected until summer 2027.
This strategic move is significant as it reflects a broader trend of European airlines consolidating ownership stakes in national carriers, which could reshape the competitive landscape in the aviation sector. The outcome may also influence TAP’s operational strategies and service offerings, impacting both employees and passengers.
As the negotiations progress, the implications for TAP’s future and its role in the European aviation market will become clearer. The government’s decision to reserve 5% of the stake for employees highlights an effort to maintain workforce engagement amid these changes.
Source: Euronews
