Portugal Shows No Preference for Any Airline in TAP Privatization, Says Finance Minister
The Portuguese government is preparing to relaunch the partial privatization of its flag carrier, TAP, with three European giants already expressing interest: Air France, Lufthansa, and IAG. However, according to Finance Minister Joaquim Miranda Sarmento, there are no favorites.
During a press conference on the sidelines of a Eurogroup meeting in Brussels, Sarmento stated that “in the coming weeks, the government will announce its decisions” regarding the terms and conditions for selling at least 50% of TAP’s shares.
“It is public knowledge that Air France, Lufthansa, and IAG have shown interest in evaluating the company and potentially submitting a proposal, which is obviously very positive for the country,” the minister said.
An Open Process, No Favoritism
Sarmento was clear: the Portuguese government has no preferences. “The winning proposal will be the one that is best for the country. We have no preferred partner or special inclination toward A, B, or C,” he told the media.
This stance aims to signal transparency and fairness in a process that has previously been hindered by internal political tensions. The privatization of TAP has been on the agenda for years but has stalled multiple times. The most recent interruption occurred after the fall of the center-right minority government in March.
→ TAP Launches Direct Flights Between Terceira Island and San Francisco
Although the same political bloc returned to power following the national elections in May, its lack of a parliamentary majority could pose new challenges to the operation.
TAP: A Coveted Strategic Asset
The interest from major airlines is no coincidence. TAP holds some of the most strategic slots in the transatlantic market, particularly from its hub in Lisbon to Brazil, Portuguese-speaking African countries, and the United States.
These flight rights are a key asset for expanding international networks and capturing high-growth markets or those with historical ties to Europe. For this reason, the Portuguese government has expressed its intention to retain majority control, even after the partial sale.
Will Bidders Be Deterred?
Given the possibility of the state retaining a majority stake, the question arises: could this dampen the interest of Air France, Lufthansa, and IAG? According to Sarmento, no.
“These companies have shown very significant interest in TAP. We will see which of them—whether all or not—submit proposals based on the privatization conditions,” he noted.
The next phase of the process will depend on the clarity and attractiveness of these conditions, as well as the political climate in Lisbon.
What’s at Stake
The outcome of this operation will not only redefine TAP’s future but also the balance of the European aviation market. At stake are high-value routes, access to new markets, and Portugal’s strategic position as a gateway between Europe, the Americas, and Africa.
Meanwhile, the aviation world is watching closely. TAP could become the next major trophy in a battle among industry titans.
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