Air France‑KLM and Lufthansa submit competing bids for TAP Air Portugal stake

On 2 August 2026, the Lufthansa Group and Air France‑KLM each lodged binding offers to acquire up to 49.9% of TAP Air Portugal as part of the Portuguese government's privatisation plan. The government is expected to announce its decision in early September.

Both bidders stress TAP’s strategic network across Africa and the Americas. Air France‑KLM aims to integrate TAP into its global brand and use Lisbon as a Southern European hub, while Lufthansa highlights expanded connectivity between Europe and Latin America, Africa and North America. Delta Air Lines, a joint‑venture partner of Air France‑KLM, will also negotiate a commercial agreement with TAP. The sale could bring investment, job creation and operational efficiencies to the national carrier.