Portugal to negotiate TAP deal with Air France-KLM and Lufthansa
The Portuguese government announced it will open negotiations with two groups that submitted binding offers for a 44.5% stake in TAP Air Portugal.
On September 5, 2026, Portuguese President António Leitão Amaro confirmed the state would begin talks with both Air France-KLM and Lufthansa regarding the privatization of TAP Air Portugal. The holding company Parpública submitted a report to the government on September 1, detailing two binding offers received at the end of July. Each group proposed acquiring 44.5% of the national airline, which represents a partial sale of its shares. Although the specific valuations differed, officials stated the overall numbers were very similar, prompting calls for negotiation. The process was relaunched in 2025 under President Luís Montenegro's administration after previously having more than two bidders. Following Parpública's analysis, the government may select one or both contenders to submit a new final proposal.
