Air France-KLM Submits Binding Offer for Up to 49.9% Stake in TAP Air Portugal

Air France-KLM has submitted a binding offer to acquire a 44.9% to 49.9% stake in TAP Air Portugal as part of the Portuguese government’s privatization process, outlining a long-term strategy to expand the carrier while strengthening Portugal’s aviation sector.

The proposal includes plans to preserve TAP’s brand, headquarters, management and Lisbon hub while integrating the airline into Air France-KLM’s global commercial network. The group said it would position Lisbon as its southern European hub, leveraging TAP’s strong presence on routes to Brazil, Africa and the North Atlantic.

The bid is supported by Delta Air Lines, Air France-KLM’s transatlantic joint venture partner, which said it would pursue a strategic commercial agreement with TAP if the acquisition proceeds. The airlines envision expanded codeshare cooperation, reciprocal loyalty benefits and closer coordination across North Atlantic services.

Air France-KLM also pledged to expand maintenance, repair and overhaul (MRO) activities in Portugal in partnership with TAP Maintenance & Engineering. The investment would include new facilities for next-generation aircraft and engine maintenance, while providing TAP access to the group’s digital technologies and MRO expertise.

The binding offer was submitted to Portuguese state holding company Parpública on July 29, reaffirming Air France-KLM’s interest in acquiring a strategic stake in TAP and supporting the airline’s long-term growth within the group’s European network.