Published by Global Banking & Finance Review®
Posted on July 15, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GooglePortugal is privatizing TAP, expecting interest from EU and non-EU airlines. Key assets include connections to Brazil and the US.
By Sergio Goncalves
LISBON (Reuters) -Portugal expects the privatisation of flag carrier TAP to attract interest from large airlines both inside the European Union and outside the bloc, given its untapped potential, Prime Minister Luis Montenegro said on Tuesday.
Portugal re-launched the long-delayed privatisation of TAP on Thursday, aiming to sell a 44.9% stake to an airline that could bring global scale and competitiveness, with additional 5% to be offered to TAP employees.
Three major European airlines, Lufthansa, Air France-KLM, and British Airways owner IAG, have already held meetings with the government about TAP over the past year.
Air France-KLM has confirmed its interest after Thursday's announcement, saying it "will participate in this process once all details are released".
Montenegro said he also expected non-EU carriers to express interest, though he did not name any potential bidders. He told a news conference that TAP integrated "into a larger group, with a greater capacity to generate synergies, has untapped potential that is very positive, attractive and valuable".
The Portuguese flag carrier's sale model will allow an airline to partner with investment funds and private investors and submit a joint bid.
Its most attractive assets are its connections to Brazil, Portuguese-speaking African countries, and the United States from its Lisbon hub, which the government wants to maintain and even grow.
Montenegro said Portugal also wants to increase airport capacity in the cities of Porto, Faro, and the autonomous regions of Madeira and the Azores.
(Reporting by Sergio GoncalvesEditing by Tomasz Janowski)
Portugal aims to sell a 44.9% stake in TAP to an airline.
Lufthansa, Air France-KLM, and British Airways owner IAG have held meetings with the government about TAP.
TAP's most attractive assets include its connections to Brazil, Portuguese-speaking African countries, and the United States from its Lisbon hub.
Yes, Portugal expects large non-EU carriers to express interest in the TAP privatization process.
Portugal wants to increase airport capacity in Porto, Faro, Madeira, and the Azores.
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