Air France-KLM Sets Sights on TAP Air Portugal Stake

Air France-KLM has made a non-binding bid for a minority stake in TAP Air Portugal, as part of the Portuguese government's privatization efforts. TAP offers valuable slots in Lisbon connecting to Brazil, Africa, and the US. The outcome will finalize by the second half of 2026.

Air France-KLM has announced its intention to acquire a minority stake in TAP Air Portugal through a non-binding offer, as the Portuguese government progresses with the privatization of its national airline.

In July, Portugal reinitiated the much-delayed sale process, offering a 44.9% stake to a strategic airline capable of enhancing TAP's global presence, while reserving an additional 5% for employees. Air France-KLM is the first among three European airline groups, including IAG and Lufthansa, to officially bid.

The French-Dutch carrier aims to bolster operations in Lisbon and other Portuguese cities, leveraging TAP's valuable connections with Brazil, Africa, and the US. The government may later divest its remaining 50.1% stake to the current minority stake buyer. The privatization is set to conclude in the second half of 2026.

(With inputs from agencies.)