The Portuguese government is preparing to resume the privatization of TAP Air Portugal in 2025, after more than a dozen interested parties expressed interest in buying the airline.
Among them are major airlines such as Air France-KLM, Lufthansa and the IAG group, which controls British Airways and Iberia.
The information was released by the Minister of Infrastructure, Miguel Pinto Luz, who highlighted TAP’s financial strengthening in recent years, with competitive operating results in relation to other European airlines.
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The proposal to privatize at least 51% of TAP was approved by a socialist administration in September 2023. However, the sale did not go ahead due to early elections in March, which resulted in the victory of a center-right coalition.
Privatization should take place in 2025
The government plans to resume the privatization process next year, consulting all interested parties to define the best sale model.
Miguel Pinto Luz assured that, regardless of the privatization model adopted, the TAP brand and the operations hub in Lisbon will be maintained.
He also stressed that TAP’s strategic routes, especially those serving countries such as Brazil, Angola, Mozambique and the United States, will remain unchanged. This guarantee aims to protect TAP’s identity and importance to the country and to the ties of the Portuguese community around the world.
Prime Minister Luis Montenegro, who previously defended a full privatization of the company, signaled about a month ago the possibility of a partial sale, indicating the government’s flexibility regarding the final format of the transaction.
Interest from major European and international players
According to Pinto Luz, the government has received expressions of interest from more than a dozen potential buyers, both national and international, including groups outside Europe.
Lufthansa, for example, is reportedly interested in a 19.9% stake in TAP, according to a Reuters report, which would avoid the need for approval from the European Commission, since the stake would be below the 20% limit.
Air France-KLM, for its part, is reportedly willing to consider several possibilities, including the purchase of a minority stake.
