Lisbon, April 23, 2026 (Lusa) - Air France-KLM said on Thursday it looked forward to the next steps in the privatisation process of Portugal’s flag carrier TAP and reiterated its "strong and continuous" interest in the airline.
"Air France-KLM welcomes the announcement by (the state holding company managing public assets), and thanks Portugal's government for the invitation to participate in the next stage of TAP's privatisation process," the French-Dutch company said.
The cabinet approved a resolution on Thursday that invited Air France-KLM and Lufthansa to submit binding bids to acquire TAP.
In the same statement, Air France-KLM said group CEO Benjamin Smith previously noted that TAP fitted the group’s multi-hub strategy perfectly.
It said the aim was to strengthen operations in Lisbon while developing connectivity in other cities, including Porto.
The company said it intended to make Lisbon its sole Southern European hub and "integrate the airline following the group's consolidation approach, which favours cooperation within a clear framework."
"This model would benefit TAP, its workers and Portugal as a whole, through increased connectivity," it added.
After the meeting, finance minister Joaquim Miranda Sarmento and infrastructure and housing minister Miguel Pinto Luz said financial proposals from the two bidders were equivalent, but "confidentiality duties prevent any reference to values."
Strategic alignment areas for TAP include connectivity with autonomous regions and Portuguese-speaking countries, expanding operations in Porto, growing maintenance and engineering services, investing in the fleet, an "ambitious 10-year growth plan," and a commitment to sustainability, Luz said.
Air France-KLM and Lufthansa remain in the race after IAG, which owns Iberia and British Airways, did not submit a proposal.
In this third phase of the tender, the two companies have 90 days, until July, to submit binding bids.
The government wants to sell up to 49.9% of the airline's capital, with 44.9% for a reference investor and up to 5% reserved for workers. The process considers price, industrial plans, connectivity, and the buyer’s financial capacity.
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