Portugal’s government is still committed to privatization of TAP Portugal, but political considerations may result in selling off only a minority interest. All three of the potential bidders say they are interested no matter what.
The previous government was committed to selling off the airline, which returned to government ownership during the pandemic, but some forces in the parliament elected last March oppose selling off the entire operation. However, the Infrastructure Minister says the government still prefers selling 100% and has pledged to insist on a price that allows Portugal to recoup the €3.2 billion it has invested in the airline.
AirFrance/KLM, Lufthansa and International Airlines Group, parent of Iberia and British Airways have all expressed interest and met with government officials to to explore deals. In the meantime, Portugal’s sovereign wealth fund that holds TAP’s shares, has hired Bank of America to advise it.
