TAP Air Portugal sees no risk to privatisation from jet fuel crisis

• TAP Air Portugal stated high fuel prices do not threaten privatisation.
• The process targets investor selection by October 2026.
• Lufthansa Group and Air France-KLM submitted offers.
• Binding bids are expected by the end of July 2026.
• The state plans to retain control after the sale.

TAP Air Portugal has confirmed that high fuel prices present no risk to its privatisation process. Chairman Carlos Oliveira and chief executive Luis Rodrigues both addressed the issue. The airline and Portuguese state aim to select a new investor by October 2026.

Lufthansa Group and Air France-KLM submitted non-binding offers for a 44.9pc stake. Binding offers are due by the end of July 2026. A further 5pc remains reserved for employees.

Carlos Oliveira and Luis Rodrigues shared updates on the privatisation timeline.

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