Portugal has officially relaunched the privatization process of its national airline, TAP Air, and all signs point to intense competition. The government’s plan is to sell a 44.9% stake in the company to an airline capable of providing global scale and competitiveness. Additionally, an extra 5% will be offered to TAP’s own employees, reinforcing their involvement in the group’s future.
Confirmed Interest in Europe… and Expectations Beyond
Three major European groups have already expressed interest in the process: Lufthansa, Air France-KLM, and the IAG conglomerate, which owns Iberia and British Airways. These airlines have held meetings with the Portuguese government over the past year. Among them, Air France-KLM was the first to confirm its participation following Thursday’s official announcement, stating it would “take part in this process once all the details are published.”
But Portugal’s ambitions extend beyond Europe. Prime Minister Luís Montenegro stated at a press conference that he expects interest from airlines outside the European Union, though he did not mention specific names. According to him, TAP, “integrated into a larger group with greater synergy potential, has untapped value that is highly positive, attractive, and valuable.”
→ TAP Launches Direct Flights Between Terceira Island and San Francisco
TAP: The Strategic Value of Its Network
One of TAP’s biggest assets is its strong network of connections to Brazil, Portuguese-speaking African countries, and the United States. This geographic and cultural positioning makes Lisbon’s hub a strategic node between the Americas, Africa, and Europe. The government aims not only to preserve this network but also to expand it, enhancing the appeal of the deal.
Montenegro also highlighted plans to increase airport capacity in other key regions of the country, including the cities of Porto and Faro, as well as the autonomous regions of Madeira and the Azores. This expansion aims to solidify TAP as an international connecting platform from multiple points across Portugal.
Flexible Model to Attract Investment
The sale structure designed by the government allows airlines to submit bids in partnership with investment funds and private entities. This hybrid model seeks to facilitate strategic alliances that strengthen TAP’s financial and operational stability in its next phase.
With valuable assets like its transatlantic network and a privileged location, TAP is emerging as a coveted player in the global air transport chessboard. The outcome of this privatization will shape the airline’s future and reinforce Portugal’s role as a global hub for air connectivity.
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