The Portuguese Government extended until December 31, 2026 the deadline for concluding the TAP privatization process, through Council of Ministers resolution No. 176-A/2026, published on September 4. The decision aims to allow three weeks of final negotiations with the two candidates who submitted binding offers to purchase 44.9% of the airline.
The two competitors are the Franco-Dutch Air France-KLM and the German Lufthansa, which submitted their binding proposals on July 29, the last day of the initial deadline. The Minister of the Presidency, Leitão Amaro, explained that the offers, although different, present a very close overall evaluation, which justifies the negotiation effort with both to obtain improved proposals.
Parpública will invite each competitor to join the final negotiation stage, defining the terms and conditions under which it will take place, as well as the content for the presentation of final and improved proposals. After this period, the Government will select a single competitor for the final negotiation, with the members responsible for Finance and Infrastructure adjusting the deadlines during the process.
The privatization process provides for the sale of up to 49.9% of TAP's capital, with 5% reserved for workers. The final decision will also require approval by the Council of Ministers and authorization from European competition authorities.
