Air France-KLM Submits Final Offer for Up to 49.9% of TAP Air Portugal

Air France-KLM has submitted its final offer to acquire a stake of up to 49.9% in TAP Air Portugal as the Portuguese government moves toward selecting an investor for the flag carrier.

The revised proposal includes a long-term strategic plan covering TAP’s passenger, cargo, loyalty and MRO businesses. Air France-KLM said its plan would maintain TAP as a Portuguese carrier while supporting further growth in Lisbon, Porto and other Portuguese markets.

Under the proposal, Lisbon would become Air France-KLM’s exclusive Southern European hub, adding another strategic connecting point to the group’s existing network.

Air France-KLM also plans to use the investment to deepen TAP’s international connectivity, including on North Atlantic routes. Delta Air Lines, Air France-KLM’s transatlantic joint venture partner, and the SkyTeam alliance have expressed support for the proposal.

The offer follows several weeks of work by Air France-KLM and its advisors to revise its bid for the stake. Financial terms of the final proposal were not disclosed.

Air France-KLM’s proposed investment remains subject to selection by the Portuguese government.