- Portugal targets mid-2027 to finalise the TAP sale.
- The government offers a minority stake of up to 49 percent.
- Air France-KLM and Lufthansa submitted non-binding offers.
- Lisbon must remain the main hub and operational base.
- The state intends to retain majority control initially.
Portugal has set a target to finalise the sale of a stake in its national carrier TAP Air Portugal by mid-2027. The government continues the privatisation process for a minority share of up to 49 percent in the airline. This timeline follows the submission of non-binding offers and ongoing evaluation of bids from leading European carriers.
Air France-KLM and Lufthansa have emerged as the main contenders for the stake, while IAG withdrew from the process. The Portuguese state plans to retain majority control in the initial phase, with Lisbon remaining the airline’s hub. The sale aims to strengthen TAP’s competitiveness and global network reach while safeguarding strategic national interests.
The process has advanced through several stages since its relaunch. Binding bids and final selection will take place in the coming months.
