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Air France-KLM submits offer for minority stake in Portugal's TAP ...
- On Thursday, Air France-KLM submitted a non-binding offer for a minority stake in TAP Air Portugal, advancing the Portuguese government's long-delayed privatization of the flag carrier.
- Portuguese officials launched the privatization in July to sell a 44.9% stake, aiming to integrate the airline into a larger group to gain scale and secure its long-term future.
- Lufthansa submitted a formal bid Thursday, while British Airways-owner IAG is likely to abandon its pursuit due to concerns about the minority sale structure.
- State holding company Parpublica will prepare a merit report within 30 days, then invite selected candidates to submit binding proposals within 90 days.
- The privatization is expected to conclude in 2026, with the government retaining the right to sell its remaining 50.1% stake to the successful bidder at a later date.
35 Articles
35 Articles
Air France-KLM and Lufthansa submitted non-binding offers to acquire up to 49.9% of the capital of the Portuguese company, while IAG withdrew from the grouping process.
Air France-KLM and Lufthansa Vie for T A Strategic Move in European Aviation
Air France-KLM and Lufthansa have submitted non-binding bids for a minority stake in Portugal's flag carrier TAP. The bids are part of a privatization effort to sell a 44.9% stake to a strategic partner to enhance TAP's competitiveness. British Airways' owner IAG opted out after initial interest.
The government in Lisbon wants to privatise the national airline TAP Air Portugal. For Lufthansa this would be an opportunity to improve its weak position in the South America business. However, there are other interested parties.
The Air France-KLM group reported on this Friday that it submitted a bid to acquire a minority participation in the TAP Air Portugal, which is in the process of privatization by the Portuguese government. Growth: The Group Air France KLM offers a wide range of flights to Brazil and offers premium services News: Gol ad hub in Galeão and provides direct flight from Rio to NY from July “The non-binding proposal was submitted to the Republic”, said …
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