Portuguese President Approves TAP Air Portugal Privatisation

Portuguese President Marcelo Rebelo de Sousa has approved a government decree authorising the privatisation of TAP Air Portugal (TP, Lisbon), paving the way for a minority stake sale in the national carrier.

Under the terms, interested investors have 60 days to complete the prequalification process, followed by 90 days to submit non-binding offers for up to a 44.9% share in the airline. Major European aviation groups, including Lufthansa Group, Air France-KLM, and International Airlines Group (IAG), have already expressed interest in acquiring a stake.

This marks a significant policy shift from October 2023, when de Sousa vetoed the proposed sale of at least 51% of TAP, citing concerns over transparency and the government’s ability to maintain oversight of a strategically important company. The change comes after the May 2025 elections, when the new administration committed to reviving the privatisation process while retaining majority state ownership.

The government has assured that the partial sale will strengthen TAP’s competitiveness, attract strategic investment, and expand its network reach while ensuring Portugal retains control over key operational decisions. De Sousa gave his approval after receiving detailed clarifications on the sale’s framework and safeguards from government officials.

TAP Air Portugal, which operates an extensive network connecting Europe, the Americas, and Africa, has been a focal point in Portugal’s aviation sector recovery efforts. The upcoming bidding process is expected to draw strong interest from global airline groups seeking to expand their footprint in the Iberian and transatlantic markets.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com