{"id":90457,"date":"2025-11-20T00:00:00","date_gmt":"2025-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/11\/20\/air-france-leads-race-for-minority-stake-in-portugals-tap\/"},"modified":"2025-11-20T00:00:00","modified_gmt":"2025-11-20T00:00:00","slug":"air-france-leads-race-for-minority-stake-in-portugals-tap","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/11\/20\/air-france-leads-race-for-minority-stake-in-portugals-tap\/","title":{"rendered":"Air France leads race for minority stake in Portugal\u2019s Tap"},"content":{"rendered":"

Air <\/strong>France emerges as first known bidder for Tap Air\u2019s stake: <\/strong>Air France-KLM<\/a> has become the first known carrier to submit an expression of interest (EOI) to acquire as much as 44.9% of Portugal\u2019s Tap Air<\/a>, the French carrier\u2019s CEO Ben Smith told Bloomberg<\/a>. <\/p>\n

Rules for prospective suitors: <\/strong>As per mandates by the Portuguese government, prospective bidders must have annual revenues of at least EUR 5 bn in any of the past three years. Air France has agreed to the government\u2019s requirements to keep the carrier\u2019s Lisbon headquarters, expand Tap Air\u2019s network \u2014 especially to Portuguese-speaking nations \u2014 and preserve the Tap brand, Smith said. <\/p>\n

The big three are interested: <\/strong>British Airways owner IAG is also looking to acquire a stake in Tap, aiming to expand its Lisbon hub, Reuters<\/a> reported earlier this year. Lufthansa CEO Carsten Spohr met with Portuguese officials last year, indicating interest in buying a stake, which could amount to 19.9% of the company, Reuters<\/a> reported at the time.<\/p>\n

BACKGROUND- Dark clouds over Lisbon: <\/strong>Tap\u2019s headquarters was raided by Portuguese authorities amid suspicions related to the government\u2019s sale of a 61% stake in the carrier back in 2015, Bloomberg<\/a> reported this week. Privatization efforts were later undone by a newly elected Socialist administration. <\/p>\n

Dates to remember:<\/strong> The deadline for the first round is 22 November. Qualified bidders will then be invited in January to submit non-binding offers by around 1 April. Binding bids will fall due around three months later.<\/p>\n","protected":false},"excerpt":{"rendered":"

Air France has agreed to the government\u2019s requirements to keep the carrier\u2019s Lisbon headquarters, expand Tap Air\u2019s network, and preserve the Tap brand<\/p>\n","protected":false},"author":1,"featured_media":90458,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,145,137],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-aviation","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"bb8cee97-2b7a-40cf-9136-faaa01a74c28","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/1600.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Air France leads race for minority stake in Portugal\u2019s Tap","related_issue":[90441],"teaser":"Air France has agreed to the government\u2019s requirements to keep the carrier\u2019s Lisbon headquarters, expand Tap Air\u2019s network, and preserve the Tap brand","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.fe2ded64-7e8a-45b9-b9fd-9cd2173fbabe.mp3"},"yoast_head":"\nAir France leads race for minority stake in Portugal\u2019s Tap - 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