The Portuguese government has invited Air France-KLM and Lufthansa to submit binding offers for a 44.9% stake in TAP. Ministers highlighted the strategic importance of integrating the airline into a major European aviation group, noting that both initial proposals are highly competitive. Consequently, the final purchase price is expected to be the deciding factor in the selection process. The government aims to conclude the process by early autumn, with the bidders now entering a 90-day period for due diligence and final proposal submission.