Air France-KLM, Lufthansa bids advance in race for TAP stake

Henrique Almeida / Bloomberg04-23

Portugal has invited Air France-KLM and Deutsche Lufthansa AG to submit binding bids for a minority stake in TAP SA, setting up a contest for one of Europe’s last remaining state-owned airlines.(April...

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The government expects to reach a final decision in August or early September, he added.\nPortugal plans to sell as much as 49.9% of TAP, with a 5% stake first reserved for employees. The two airline groups will now conduct due diligence and are expected to submit binding offers within about three months, in line with the government’s previously announced privatisation timeline.\nPeople familiar with the matter had said earlier this week that officials were likely to move Air France-KLM and Lufthansa to the next stage.\nTAP is valued for its network linking Europe with Brazil, North America and parts of Africa, making it an attractive target for larger airline groups looking to expand their long-haul operations.\nAt Thursday’s press conference, Finance Minister Joaquim Miranda Sarmento said the war in Iran has created uncertainty in the aviation sector, but he does not expect it to affect TAP’s valuation. He also reiterated that TAP needs to be part of a larger European airline group to remain sustainable.\nUploaded by Felyx Teoh","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2629386722","isCrawlerRequest":true}