The Lufthansa Group and Air France-KLM have both submitted bids to acquire a minority stake in TAP Air Portugal as part of the airline's privatisation process.
Lufthansa Group submitted a bid for an initial minority stake, with the aim of establishing a long-term partnership to support TAP’s future growth as Portugal’s national airline.
“The partnership would strengthen Lisbon’s position as a strategically important Atlantic hub within Lufthansa Group’s network. Connectivity between Europe and other regions, such as Latin America, Africa, and North America, could be expanded,” the group said in a statement.
Air France-KLM submitted a binding offer for a 44,9% to 49,9% stake, accompanied by a strategic plan that includes job creation and investment to strengthen the airline.
“If selected, Air France-KLM would position Lisbon as its Southern European hub, reinforcing the Group’s global network and expanding connectivity to key markets, particularly in the Americas and Africa,” the group said.
As joint venture partner and shareholder in Air France-KLM, Delta Air Lines would also commence negotiations with TAP on a strategic commercial agreement involving reciprocal codeshare and loyalty benefits.
