Lufthansa and Air France-KLM remain in race for TAP
The race to privatise the national airline TAP Air Portugal has narrowed to two bidders, Lufthansa and Air France-KLM, following the withdrawal of the International Airlines Group (IAG). IAG, which owns Iberia and British Airways, stated that pursuing a minority stake in the Portuguese carrier did not align with its shareholders' interests. The government agency Parpública now has 30 days to review the remaining proposals.
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.
