Air France-KLM and Lufthansa submit binding offers for TAP stake

Air France-KLM and the Lufthansa Group have presented definitive proposals to acquire a minority interest in TAP Air Portugal, marking a crucial step in the airline’s privatization process. These binding bids represent significant developments as TAP moves towards its planned sale by Parpublica. The Portuguese government will now possess thirty days to evaluate these offers and produce a comprehensive report detailing their findings. This assessment is intended to inform the next phase of negotiations surrounding the stake acquisition. Both airlines are seeking to bolster their international networks through access to TAP's extensive route system.