Air France‑KLM and Lufthansa submit final bids for TAP Air Portugal

Portugal’s state investment arm Parpública is evaluating binding offers from Air France‑KLM and Lufthansa Group for a 44.5%–49.9% stake in national carrier TAP Air Portugal. IAG withdrew earlier, leaving the two groups as the only contenders. The Portuguese government aims to complete the sale by September, after a 2020 renationalisation that involved a €3.2 billion state aid.

Both bidders see strategic value: Air France‑KLM would use TAP as its Southern‑European hub and to strengthen its trans‑Atlantic joint venture with Delta, while Lufthansa already controls ITA Airways in Rome but seeks further presence in the Iberian market. TAP operates a fleet of about 100 Airbus aircraft, serves key routes to Brazil, Portuguese‑speaking Africa and North America, and employs roughly 7,700 people. EU competition rules limit prolonged public support, prompting the government to offload the airline to a larger group to ensure future stability.