Air France-KLM and Lufthansa await decision on TAP privatization

Air France-KLM and Lufthansa Group are awaiting a decision from the Portuguese government regarding the privatization of TAP Air Portugal. The decision is expected to be announced next week.

Both aviation groups recently submitted final, binding proposals to acquire 44.9% of TAP's capital. Under the proposed terms, 5% of the capital would be reserved for workers, while the Portuguese state would remain the majority shareholder.

Speaking at an Airlines for Europe (A4E) conference in Brussels, Air France-KLM CEO Benjamin Smith confirmed the timeline for the decision but declined to disclose the specific details of their proposal.