Parpública to submit TAP bids report on September 1

Parpública, the Portuguese state holding company, will submit its report on September 1 assessing the binding bids from Air France-KLM and Lufthansa for 44.9% of TAP, ECO has learned. The document is a key step in Portugal’s plan to privatise up to 49.99% of the airline and will guide the government’s choice of buyer.

According to the information obtained by ECO, the report will be sent to the finance and infrastructure ministries 30 days after the two groups submitted their binding offers. On July 29, Parpública said it had received bids from both airline groups for 44.5% of TAP. A further 5% is reserved for employees and could also be acquired by the bidder chosen by the government if it is not fully taken up.

Under the tender rules approved by the Council of Ministers on September 5, 2025, Parpública’s report must set out the proposals in detail and assess each one against the selection criteria, including their absolute and relative merit. The rules also allow Parpública to conclude that the bids are of equivalent merit.

The reports are also sent to the monitoring committee for the reprivatisation process, which is chaired by Daniel Traça and includes New York University professor Luís Cabral and Boston College finance professor Rui Albuquerque. The next step then falls to the government, with the Council of Ministers required to review the bids and select the offer for the stake being sold.

Originally published at Eco.pt