Government receives TAP privatisation report
Portugal’s government has received Parpública’s assessment of bids for 44.9% of TAP, a key step in the sale of nearly half the state-owned airline.
Portugal’s government has received Parpública’s report assessing the binding bids submitted by Air France-KLM and Lufthansa for a 44.9% stake in TAP, ECO has learned. The document is a key step in the planned sale of up to 49.99% of the airline, a process closely watched by investors and the aviation sector.
According to the Finance Ministry, Parpública delivered the report on Tuesday after reviewing the offers submitted on July 29. “The government will now analyse the document and, in due course, will comment on it in order to continue this process,” an official ministry source told ECO.
Under the tender rules approved by the Council of Ministers on September 5, 2025, the report sent to the Finance and Infrastructure ministries must describe the proposals in detail and assess each one against the selection criteria, including whether they have equivalent merit. The reports are also sent to the monitoring committee overseeing the reprivatisation process.
Under the privatisation decree-law published on August 14, 2025, the next stage is a negotiation phase that may lead to invitations for final and improved binding offers before a winner is selected. The wider process covers up to 49.99% of TAP, including a 5% stake reserved for the airline’s employees.
TAP said on Monday that it posted a net loss of €99.2 million in the first half, 40% worse than a year earlier, after fuel costs rose by nearly a fifth due to the war in the Middle East. That came despite 4% growth in both revenue and passenger numbers.
Originally published at Eco.pt