Parpública delivered to the Government the report with the description and assessment of the binding proposals submitted on July 29 by the Air France-KLM and Lufthansa groups for the purchase of 44.9% of TAP. The document will be analyzed by the Executive led by Luís Montenegro to decide who will get almost half of the airline, in a privatization process of up to 49.99% of TAP that includes a 5% share reserved for workers.
According to the Specifications Document approved on September 5, 2025 in the Council of Ministers, Parpública's report must describe in a reasoned manner the proposals received and contain an assessment of each one, determining their absolute and relative merit based on the selection criteria provided. The reports are also sent to a monitoring commission chaired by Daniel Traça, former dean of Nova SBE and current leader of ESADE in Spain.
According to the privatization Decree-Law published in the Official Gazette on August 14, 2025, what follows now is a negotiation phase for the purpose of formulating an invitation to the respective proponent to submit final and improved binding proposals, with a view to their selection for award.
TAP reported a net loss of 99.2 million euros in the first half of the year, representing a worsening of 40% compared to the same period last year. The airline was penalized by an increase of almost one-fifth in fuel costs due to the war in the Middle East, which overlapped with growth of 4% in revenues and number of passengers.
