Air France-KLM and Lufthansa submit final bids to acquire 44.9% of TAP

Air France-KLM and Lufthansa submitted their definitive proposals to Parpública on Wednesday, seeking to purchase a 44.9% share of TAP as part of the state's privatization plan. The bids, first filed on the July 29 deadline, detail financial terms, fleet development, maintenance investments and sustainable-fuel strategies, while respecting existing labour commitments. Portugal's minister of Infrastructure and Housing indicated the government has 15 days to evaluate the offers before a final decision.

The overall process allows the state to sell up to 49.9% of TAP, with 5% earmarked for employee ownership and any unsold portion offered to the selected buyer. Final selection will still require cabinet approval and EU competition clearance. Both airlines argue their plans will boost TAP's hub role in Lisbon and expand routes to the Porto region and Brazil.