Air France-KLM and Lufthansa submit improved bids for TAP stake

Parpública, the entity managing Portuguese state holdings, has confirmed the receipt of improved binding proposals from Air France-KLM and Lufthansa regarding the sale of a 44.9% stake in TAP Air Portugal.

Following these submissions, Parpública will prepare a descriptive report detailing the merits of both candidates. This report will be submitted to the government ministers responsible for finance and air transport for final evaluation. The privatization process allows for the sale of up to 49.9% of the airline's capital, with 5% reserved for employees.

Government officials noted that while price is a significant factor, the final decision will also consider a global assessment of the offers, including strategic industrial projects and route development. The government is expected to evaluate the final decision within 15 days once the proposals are presented.