Lisbon, April 2, 2026 (Lusa) - Air France-KLM is submitting a non-binding offer on Thursday to acquire a minority stake in TAP Air Portugal, the group has announced.
“We recognise the value that TAP has built up over the last 81 years: a solid hub in Lisbon, a strong brand and a unique offering with thousands of destinations, providing high-quality connectivity,” said the CEO of the Air France-KLM group, Benjamin Smith.
In the statement, the group said the non-binding proposal was submitted to the Portuguese state business managing group, Parpública, today.
Quoted in the statement, Benjamin Smith said he believed the next chapter in the Portuguese airline’s history “should be written as part of the Air France-KLM Group, building on this legacy and taking TAP to a new level”.
“TAP fits perfectly into Air France-KLM’s multi-hub strategy, and our aim is to strengthen operations in Lisbon whilst developing connectivity in other cities across the country, including Porto. We look forward to the next stages of this privatisation process,” he added.
The deadline for submitting bids for the privatisation of TAP ends today, and three aviation groups had already expressed interest: Lufthansa, IAG, owner of Iberia and British Airways, and Air France-KLM.
In mid-February, Air France-KLM had already revealed that it was working on a non-binding bid for the privatisation of TAP.
Lufthansa has given assurances that it will not give up on TAP and has confirmed that it will submit a non-binding bid, arguing that it is the partner best placed to develop the Portuguese airline, said the group’s head of strategy, Tamur Goudarzi Pour, at the time.
Following reports by Bloomberg that IAG might not proceed with a bid, an official source from the owner of Iberia and British Airways merely indicated that, in accordance with the process, it has until today to make a decision.
In the statement released today, the Air France-KLM group states that, thanks to its ideal geographical location, Lisbon “would become the Group’s sole hub in Southern Europe”, offering “extensive connectivity”, particularly to the Americas – including Brazil, a market it considers crucial for both TAP and Air France-KLM – and to Africa.
“TAP would benefit from integration into a global commercial organisation, comprising Air France, KLM and Transavia, as well as from close collaboration with Delta Air Lines and Virgin Atlantic, Air France-KLM’s partners in the transatlantic joint venture,” the group notes, adding that this would help the Portuguese airline realise its vision of “embracing the world”.
Given that TAP and Air France-KLM operate highly complementary networks, “Portugal as a whole would benefit from increased air connectivity”, the statement emphasises, in which the group states that it wishes to allow TAP to remain “true to its Portuguese heritage”.
The group also believes that TAP would benefit from “a smooth integration into a larger, robust group with economies of scale and a global reach, strengthening its competitiveness”.
This cooperation, it insists, “would extend to all business areas and include a focus on decarbonisation — a key strategic priority for Air France-KLM”.
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