Published by Global Banking & Finance Review®
Posted on July 8, 2025
2 min readLast updated: January 23, 2026
Portugal's finance minister announced no preferred bidder for TAP's privatisation, with interest from Air France, Lufthansa, and IAG.
By Sergio Goncalves
LISBON (Reuters) -Portugal has no preferred pick among the three major European airlines that have shown interest in the flag carrier TAP, whose partial privatisation the government is due to relaunch soon, Finance Minister Joaquim Miranda Sarmento said on Tuesday.
Speaking on the sidelines of a Eurogroup meeting in Brussels, he said that "in the coming weeks, the government will announce its decisions" regarding the terms and conditions for the planned sale of less than 50% of TAP's capital.
"It is public knowledge that Air France, Lufthansa and IAG have expressed an interest in looking at the company and eventually making a proposal, which is obviously very positive for the country," he told reporters.
"The winning proposal will be the one that is best for the country, we do not have any preferred partner, nor any special bias in favour of A, B or C," he told reporters.
TAP's most attractive assets are its key slots to Brazil, Portuguese-speaking African countries and the U.S. from its Lisbon hub, which the Portuguese government wants to maintain.
Asked whether the three major European airlines might lose enthusiasm because the government will hold a majority stake, he said: "These companies have shown a very significant interest in TAP, we will see which of them, whether all or not, will present proposals based on the privatisation conditions."
TAP has long been earmarked for privatisation, but the process had once again stalled when the centre-right minority government collapsed in March. The coalition returned to power after a national election in May, still well short of a majority in parliament, which could block the sale of TAP.
(Reporting by Sergio Goncalves; Editing by Susan Fenton)
Air France, Lufthansa, and IAG have expressed interest in TAP.
The government has stated that it does not have a preferred partner and will choose the proposal that is best for the country.
TAP's key assets include its slots to Brazil, Portuguese-speaking African countries, and the U.S. from its Lisbon hub.
The privatisation process had stalled due to the collapse of the centre-right minority government in March.
The government plans to announce its decisions regarding the terms and conditions for the sale in the coming weeks.
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