TAP: Government extends deadline until end of year to complete privatization

The Portuguese Government has extended until the end of the year the deadline to complete the privatization of TAP. The decision comes to allow more time for negotiations with potential buyers. Over the next three weeks, the executive will hold final negotiations with Air France-KLM and Lufthansa, the two companies that remain in the race for the acquisition of the Portuguese airline. The main objective of this extension is to allow both groups to submit improved binding proposals, meaning definitive and mandatory offers for the purchase of TAP. This extension comes at a crucial moment in the privatization process, which has been attracting interest from major European airline groups.