Air France-KLM has become the first company to submit a non-binding bid for a minority stake in Portuguese airline TAP, according to reports. The bid comes after Portugal's government decided to sell up to 49.9 percent of the state-owned carrier as part of a privatization process.
The Franco-Dutch airline group confirmed it submitted its proposal on April 2, 2026, which was reportedly the deadline for non-binding bids. In a statement, Air France-KLM emphasized its experience working with state shareholders and said it aims to strengthen operations in Lisbon while developing connectivity in other Portuguese cities including Porto.
In a statement, Air France-KLM emphasized its experience working with state shareholders and said it aims to strengthen operations in Lisbon while developing connectivity in other Portuguese cities including Porto.
Air France-KLM executive chairman Benjamin Smith reportedly assured that the company would not jeopardize the maintenance of TAP's Lisbon operational center, addressing concerns from political parties opposing the sale. The company stated that Lisbon could become its only hub in southern Europe, offering extensive connectivity to the Americas and Africa.
The Portuguese government is also expecting bids from other major airlines, including German carrier Lufthansa, which has confirmed it will submit a non-binding proposal. Lufthansa has positioned itself as the partner with the greatest capacity to develop the Portuguese airline. However, doubts reportedly persist about whether IAG, which owns Iberia and British Airways, will proceed with a bid.
Air France-KLM executive chairman Benjamin Smith reportedly assured that the company would not jeopardize the maintenance of TAP's Lisbon operational center, addressing concerns from political parties opposing the sale.
Air France-KLM, which became a major shareholder in Scandinavian airline SAS in 2023, now faces competition in the TAP privatization process. The company stated it favors cooperation within a framework designed to maximize economic and operational synergies while allowing TAP to benefit from integration into a larger group.
The company stated that Lisbon could become its only hub in southern Europe, offering extensive connectivity to the Americas and Africa.
Lufthansa has positioned itself as the partner with the greatest capacity to develop the Portuguese airline.
The company stated it favors cooperation within a framework designed to maximize economic and operational synergies while allowing TAP to benefit from integration into a larger group.