Portugal Requests Binding TAP Bids, 44.9% Stake

Portugal's government invited Air France-KLM and Lufthansa to submit binding offers for a 44.9% minority stake in TAP.
Formal invitations will be sent by end‑April, with binding bids due by end‑July and privatization expected to close by early September.
An additional 5% of TAP is earmarked for employee ownership, and the government praised the proposals as ambitious and equivalent.
Minister Miguel Pinto Luz highlighted TAP's valuable Lisbon slots to Brazil, Africa and the US, while monitoring Middle East fuel‑supply risks.