Portugal considering selling 49% of airline that Air France-KLM showed interest in

The Portuguese government is contemplating selling at least 49 percent of its shares in the Portuguese airline TAP. It is reportedly the latest attempt by the nation to privatize the state-owned national airline, Bloomberg reported based on info from sources. This news will be of interest to Air France-KLM, who have shown interest in purchasing a stake in the airline in the past.

The privatization process would reportedly begin in March and could be finalized at the end of this year or in 2026. Around 12 companies are interested in TAP.

In addition to AirFrance-KLM, German airline company Lufthansa and British Airways’ parent company IAG are among the businesses that have shown an interest in taking over the airline in the past.

TAP, based in Lisbon, is the largest European operator of flights to Brazil, they also have a strong presence in Africa. In addition, TAP operates a number of flights to North America.

The airline is one of the few state-owned carriers that can still be bought, as the three companies mentioned earlier now own a significant majority of state-owned airlines in Europe.

TAP carried 16 million passengers last year, a 1.6 percent increase compared to 2023, Bloomberg reported. The Portuguese Prime Minister, Luis Montenegro, has said that he wants to keep the airline’s hub in Lisbon.