Air France-KLM Makes Its Move to Stake Claim in TAP Air Portugal

Air France-KLM has expressed interest in purchasing a minority stake in TAP Air Portugal as part of the airline's privatization process. The Franco-Dutch airline group is the first to make an official bid, amid interest from competitors IAG and Lufthansa, to acquire up to 49.9% of TAP's shares.

In a significant move, Air France-KLM has formally submitted a non-binding offer to acquire a minority stake in TAP Air Portugal, the national airline marked for privatization by the Portuguese government.

This development makes Air France-KLM the first among leading European carriers to make an official bid, with British Airways-owner IAG and Germany's Lufthansa also in the fray to purchase up to 49.9% of TAP's shares.

"Our ambition is to strengthen operations in Lisbon and enhance connectivity across Portugal, including Porto," stated Benjamin Smith, CEO of Air France-KLM, as the group looks forward to advancing in the privatization process.

(With inputs from agencies.)