Air France-KLM submits bid for stake in Portugal's TAP

(Sharecast News) - Air France-KLM said it had submitted a non-binding offer to buy a minority stake in TAP Air Portugal as part of the Portuguese government's plan to privatise its national airline. Portugal wants to sell a 44.9% stake to a strategic airline partner able to expand the flag carrier's global network.

Air France-KLM is the first among three European airline groups, which have expressed interest in participating in the airline's privatisation, to officially bid for a stake in TAP. British Airways-owner IAG and Germany's Lufthansa have also shown their interest in the Portuguese airline.

"Our ambition is to strengthen the operations at Lisbon while developing connectivity in other cities across the country including Porto. We look forward to the next steps of the privatization process," said Air France-KLM CEO Benjamin Smith.

"Thanks to its ideal geographical position, Lisbon would become the Group's unique Southern European hub, offering extensive connectivity notably to the Americas - including Brazil, a key market for both TAP and Air France-KLM, as well as Africa."

Under the privatisation decree, the government may later sell its remaining 50.1% to the buyer of the minority stake now on offer. The privatisation is expected to conclude in the second half of 2026.

Reporting by Frank Prenesti for Sharecast.com