Air France-KLM and Lufthansa submit final bids for TAP stake
Both airline groups filed improved final offers for a stake in TAP Air Portugal, closing the negotiation stage of the privatisation process. The government is expected to pick a preferred bidder by mid-October.
Air France-KLM and Lufthansa have filed revised, final bids for a stake in TAP Air Portugal. They are the only two bidders left, and the privatisation has entered its assessment stage.
State holding company Parpública will review the changes and send a report to the government. A decision on the winning bidder is expected by mid-October.
Up to 44.9 percent of TAP is for sale, with another five percent set aside at first for employees. Price is not the only test: the government will also weigh each bidder's strategy for the airline, its route network, planned investments, fleet development, maintenance and the future of the Lisbon hub.
Picking a preferred bidder would not end the process. Further negotiations and regulatory approvals would still be needed before a deal closes.
Sources
- aerotelegraph.comAir France-KLM und Lufthansa haben verbesserte Angebote für Tap eingereicht