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AeroTime
Air France-KLM and Lufthansa Group have submitted final bids for a 44.9% stake in TAP Air Portugal, following an invitation from the state holding company Parpública on September 4. They are the only two bidders remaining after initial proposals in July. The Portuguese government has two weeks to evaluate the offers, looking at the financial terms alongside investment commitments, workforce development and environmental measures. The exact contents of the bids have not been published. Air France-KLM's offer reportedly includes an option to pay partly in shares rather than cash. Its chief executive Benjamin Smith committed to respecting TAP's corporate identity and brand, strengthening its role as a transatlantic connector and establishing Lisbon as the group's exclusive southern European hub.
They are the only two bidders left in Portugal's privatisation, and the government has two weeks to weigh the financial and strategic terms. Air France-KLM has pledged to keep TAP's brand and make Lisbon its southern European hub.
Original reporting
AeroTime · Miquel Ros
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