- Air France-KLM and Lufthansa submitted final offers for TAP stake
- Air France-KLM bid for up to 49.9pc of TAP
- Lisbon would become Air France-KLM’s exclusive southern hub
- Lisbon holds 31.4pc of Europe-Brazil capacity
- TAP offered 8.49 million seats in winter 2026-27
TAP Air Portugal has taken a further step toward privatisation as Air France-KLM and Lufthansa Group submitted improved final offers for a stake, an attractive target given TAP’s strategic southern Europe position and strong South America routes. Air France-KLM CEO Ben Smith shared the company’s interest in TAP is stronger than ever, and the company is excited to present this final offer for up to 49.9pc of TAP. Smith described Air France-KLM’s presentation as an ambitious long-term strategic plan.
The Portuguese government made clear the successful bidder should invest in TAP and help it expand key strategic routes as well as grow its network, not only at the Lisbon hub but also at other regional airports in Portugal. Under Air France-KLM’s proposal, Lisbon would become the group’s exclusive southern hub. Lisbon is the largest European gateway on the overall Europe-Brazil market, according to OAG, with 1.54 million seats this winter, representing 31.4pc of Europe-Brazil capacity. Madrid ranked second with 753,300 seats and a 15.4pc share, followed by Paris Charles de Gaulle with 524,900 seats.
A Lufthansa spokesperson shared Lufthansa Group submitted an updated and improved offer in the bidding process for TAP Air Portugal at Parpública that further strengthens its long-term commitment to TAP and Portugal. The spokesperson shared the proposal reflects conviction that, based on a proven track record of successfully developing network airlines, the Lufthansa Group is the best partner to support TAP’s future growth, strengthen its competitiveness and further develop its role as Portugal’s national carrier. According to OAG data, TAP offered about 8.49 million seats in winter 2026-27, up 5.3pc year over year.
