Decision Nears on Sale of 44.9% of TAP Air Portugal: Air France-KLM and Lufthansa in Final Contest
LISBON — Portugal will pick 'very soon' the winning bidder for a 44.9 percent stake in flag carrier TAP Air Portugal, Secretary of State for Infrastructure Hugo Espírito Santo said on Tuesday, October 13, Reuters reported. 'We are very, very fast approaching the conclusion of that process,' Santo told delegates at the World Aviation Festival in Lisbon. 'Very soon we will be announcing our decision, a key pillar for the future of aviation in the country.'
The two rival bidders are Air France-KLM and Lufthansa. Santo described the ideal buyer as a partner with the scale, investment capacity and international reach to strengthen the airline's competitiveness. He would not say when the decision would be announced; Portugal's cabinet usually meets on Thursdays but could convene and take a decision at any time.
TAP is Portugal's flag carrier linking Europe with Brazil and North America, and its Lisbon hub is an important node in transatlantic networks. The minority-stake sale is the government's chosen route to bring in a strategic investor and strengthen the airline's finances and network; the outcome will shape TAP's fleet, routes and alliance position for years.
The government decision, once announced, still has to be followed by transaction documents and regulatory steps, so the shareholding change will not alter day-to-day flight operations immediately.
Sources: Compiled from Reuters (October 13, via Business Day).
Source: GSM · USA (original Chinese edition)
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