European Airlines Vying for TAP as Privatisation Advances

Germany's Lufthansa has joined Air France-KLM in expressing interest in acquiring a minority stake in Portugal's TAP as part of its privatisation. Lisbon aims to sell a 44.9% stake to a strategic airline partner. The successful offer must include a strategic plan and price proposal.

Lufthansa has confirmed its bid for a minority stake in Portugal's national airline, TAP, following a similar move by Air France-KLM. This occurs as Portugal advances its privatisation plans for the airline, aiming to sell 44.9% of TAP to a strategic partner that can enhance its global reach.

The bids, required by 5 p.m. GMT, should involve a financial offer, an industrial strategy, and possible synergies. Neither of the European airline giants disclosed their offered price, and Lufthansa opted not to issue a public statement.

The Portuguese government intends to preserve and expand TAP's pivotal routes from Lisbon to Brazil and African countries. A report evaluating proposals will be prepared within 30 days, and the privatisation is anticipated to conclude by late 2026.

(With inputs from agencies.)