{"id":179431,"date":"2025-09-26T14:30:21","date_gmt":"2025-09-26T14:30:21","guid":{"rendered":"https:\/\/aviacionaldia.com\/?p=179431"},"modified":"2025-09-27T13:47:52","modified_gmt":"2025-09-27T13:47:52","slug":"air-france-klm-formally-expresses-interest-in-acquiring-a-stake-in-tap-air-portugal","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2025\/09\/air-france-klm-formally-expresses-interest-in-acquiring-a-stake-in-tap-air-portugal.html","title":{"rendered":"Air France-KLM Formally Expresses Interest in Acquiring a Stake in TAP Air Portugal"},"content":{"rendered":"\n

The Franco-Dutch group Air France-KLM<\/strong> has become the first to formally express interest in acquiring a minority stake in TAP Air Portugal<\/strong>. This decision marks the beginning of a strategic competition in which Lufthansa Group and International Airlines Group (IAG), the parent company of British Airways, Iberia, and Aer Lingus, are also expected to participate.<\/p>\n\n\n\n

Privatization of TAP: A Long-Awaited Process<\/h2>\n\n\n\n

On September 25, 2025, Air France-KLM confirmed it had submitted an “expression of interest” for the 44.99% stake in the Portuguese airline. This came after the Portuguese President, Marcelo Rebelo de Sousa, approved the decree in August that gave the green light to the privatization.<\/p>\n\n\n\n

The Portuguese state aims to recoup the \u20ac3.2 billion in public aid delivered to TAP during the health crisis. To this end, it plans to sell up to 49.9% of the company: 44.9% to major investors, valued at approximately $817.7 million, with the remaining 5% reserved for employees.<\/p>\n\n\n\n

The deadline for submitting bids is November 22, 2025, at 4:59 PM, with the goal of finalizing the process by early 2026.<\/p>\n\n\n\n

\u2192 KLM to Serve 161 Destinations This Winter with 6% Increase in Capacity<\/a><\/em><\/strong><\/p>\n\n\n\n

Air France-KLM’s Interest<\/h2>\n\n\n\n

In a statement addressed to the Portuguese authorities, the company stated it is analyzing the conditions set by the Government, with the intention of meeting the stipulated timeline. This move places the Franco-Dutch consortium in an advantageous position in the race to consolidate the European air market.<\/p>\n\n\n\n

TAP represents a strategic asset for Air France-KLM. Its base at Humberto Delgado Airport in Lisbon offers privileged access to key markets: connections between Portugal and Brazil, Portuguese-speaking African countries, and routes to the United States. These synergies would strengthen the group’s presence in regions where its current reach is limited.<\/p>\n\n\n\n

Other Candidates: Lufthansa and IAG<\/h2>\n\n\n\n

Lufthansa Group is considered a strong rival. In recent years, it has added airlines such as Brussels Airlines, Austrian Airlines, SWISS, and ITA Airways to its portfolio and is reported to have held preliminary talks with Lisbon in early 2025.<\/p>\n\n\n\n

For its part, IAG is also closely examining the process. Following the publication of the sale terms, the group stated that it is evaluating the details and highlighted the progress achieved in the privatization.<\/p>\n\n\n\n

Obstacles on the Horizon<\/h2>\n\n\n\n

The European Commission could intervene in the process on competition grounds, as happened with Lufthansa’s recent acquisition of ITA Airways. Any investigation or request for additional information could delay the operation beyond the initial target of 2026.<\/p>\n\n\n\n

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