Air France-KLM confirmed this Friday that it remains interested in TAP and will participate in the additional round of the privatization process. The Franco-Dutch company stated that "the Group's continued participation at this stage reflects its unchanged interest in TAP" and that it looks forward to the next phase of the process. The submitted offer includes a strategic plan for all areas of the business, including passenger transport, cargo, loyalty programs and maintenance, repair and overhaul (MRO), having the support of Delta Air Lines, the group's joint venture partner.
The Portuguese Government announced that it will request improvements to the proposals from those interested in TAP after analyzing the Parpública report. The Minister of the Presidency, António Leitão Amaro, explained that the proposals from the two competing groups have overall evaluations "so close" that they justify an additional negotiation period of a few weeks with both parties. This modality, known as "best and final offer" (BAFO), is provided for in the privatization rules and allows competitors to submit improved final versions of their proposals.
Sector valuations place TAP's total value between €1.6 billion and €2 billion, which puts the 45% privatization stake in the range of €800 million to €1 billion. Miguel Madeira from IPPS-ISCTE considered that both proposals should present very similar values, with variations being more at the level of the proposal's content, particularly in the variables defined by the tender specifications such as the industrial plan, jobs generated and wealth retention in the country.
Since 2019, Air France and KLM have increased their capacity in Portugal by 44%, and for summer 2026 they announced an additional 11% increase in capacity, with up to 346 weekly frequencies on 29 routes connecting Portugal to France, the Netherlands and Belgium. The criteria defined by the Government for the privatization include immediate cash proceeds, the quality of the long-term industrial and strategic plan, fleet growth, the development of the new Lisbon airport, investment in air operations in Porto and remaining airports, sustainable fuels and maintenance and engineering.
