Air France-KLM Group has officially bid a non-binding offer to purchase a minority stake in TAP Air Portugal as the deadline for rivals International Airlines Group (IAG) and Lufthansa looms.
On April 2, 2026, Air France-KLM announced that the group had completed a “new step” in the process of TAP Air Portugal’s privatization.
According to The Portugal News, the Portuguese Minister for Infrastructure, Miguel Pinto Luz, said on January 2, 2026, the three airline groups would have a 90-day deadline to formalize non-binding bids.
The deadline for submitting non-binding bids is April 2, 2026, with further stages planned afterwards. Pinto Luz said the winning bidder will be selected by the summer.
In a statement Air France-KLM said that Lisbon would “become the group’s unique Southern European hub” if its bid was successful.
Benjamin Smith, CEO of the Air France-KLM Group said: “We firmly believe that the next chapter of the airline’s history should be written as part of the Air France-KLM Group, building on this legacy and taking TAP to the next level. TAP is a natural fit within Air France-KLM’s multi-hub strategy, and our ambition is to strengthen the operations at Lisbon while developing connectivity in other cities across the country including Porto.”
The airline group also highlighted its worldwide commercial organization, covering Air France, KLM and Transavia, as well as close engagement with Delta Air Lines and Virgin Atlantic.
According to Bloomberg, IAG is considering ending its pursuit of TAP Air Portugal after previously showing a strong interest.
An article by Lusa this week said Lufthansa’s Head of Strategy, Tamur Goudarzi Pour, told media representatives that Lufthansa plans to make an initial bid.
In November 2025, Air France-KLM, IAG and Lufthansa all formally expressed their interest in participating as a bidder for a 49.9% stake in TAP Air Portugal.
Portugal’s former leader, President Marcelo Rebelo de Sousa, approved a government decree in August 2025 that cleared the way for the long-awaited privatization of the country’s national airline.