Lufthansa and Air France-KLM submit binding bids for TAP

Wednesday, 29 July 2026AI summary

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Lufthansa and Air France-KLM submit binding bids for TAP — Photo: CHRISTOPHE PETIT TESSON/EPA

Air France-KLM and Lufthansa have submitted binding proposals to acquire a 49.9% stake in the Portuguese flag carrier, TAP Air Portugal. The state-owned holding company Parpública, which manages the government's business interests, will now evaluate the bids based on financial and strategic criteria before submitting a report to the government within 30 days.

Context & Explainers

TAP Air Portugal is Portugal’s flag-carrier airline, founded on 14 March 1945 as Transportes Aéreos Portugueses. It began operations in 1946 with Lisbon–Madrid and quickly opened the long “Linha Aérea Imperial” to Angola and Mozambique, symbolically linking mainland Portugal to its overseas territories. TAP entered the jet age in the 1960s, became Europe’s first all‑jet airline in 1967, and rebranded as TAP Air Portugal in 1979. Nationalised after the 1974 Carnation Revolution, it went through cycles of partial privatisation and renationalisation, remaining a strategic state‑controlled company due to its role in connectivity, tourism, exports, and the Portuguese diaspora, especially to Brazil, Africa, and North America. Today TAP operates an all‑Airbus fleet from its Lisbon hub, marketing itself as a bridge between Europe, Africa, and the Americas and as a key economic and symbolic asset for Portugal.

Parpública is a state-owned holding company (Parpública - Participações Públicas, SGPS, S.A.) that manages the Portuguese government's equity interests in various companies. It acts as the state's vehicle for handling privatization processes, such as the ongoing sale of a stake in the national airline, TAP Air Portugal.