TAP Air Portugal. Photo: Shutterstock Air France-KLM Amplifies Bid for TAP. Air France-KLM has submitted its final offer to acquire a stake in TAP Air Portugal, placing Lisbon at the heart of its strategy to make it the exclusive hub in Southern Europe. According to Air France-KLM’s announcement, the offer is for up to 49.9% of the Portuguese airline's shares.
The proposal includes a long-term strategic plan covering all areas of TAP’s operations: passenger flights, cargo, loyalty program, and aircraft maintenance. The group stated its aim to support TAP’s long-term growth not only in Lisbon but also in Porto and additional cities in Portugal. Air France-KLM presented the plan as a move to strengthen the Portuguese airline and the country's connectivity.
The update comes about a month after PassportNews reported that the Portuguese government decided not to choose yet between Air France-KLM and Lufthansa, opening another negotiation round to allow both groups to improve their offers. This happened after their previous offers were assessed as closely matched, although differently composed.
On September 30, Parpública, the state company managing the process, announced that it received improved binding offers from both groups as part of the negotiation phase to sell a 44.9% reference stake in TAP. The government is expected to review the proposals and later select one contender for the final negotiation stage.