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Air France-KLM Group Makes a Non-Binding Offer to Acquire a Minority Stake in TAP Air Portugal

Air France-KLM Group has announced that they have submitted a non-binding offer (NBO) to acquire a minority stake in TAP Air Portugal.


Air France-KLM Group Makes Non Binding Offer to Acquire a Minority Stake in TAP Air Portugal - Courtesy Air France-KLM Group
Air France-KLM Group Makes Non Binding Offer to Acquire a Minority Stake in TAP Air Portugal - Courtesy Air France-KLM Group

On Thursday (April 2, 2026), the Air France-KLM Group announced that they have taken a new step in the privatization process of TAP Air Portugal by submitting and non-binding offer (NBO) to acquire a minority stake in the carrier.  If the deal is completed, TAP’s Lisbon hub would become the Group’s unique hub in Southern Europe, offering extensive connectivity, particularly to the Americas, including Brazil, which is a key market for TAP and Air France-KLM, as well as to Africa.  TAP would also benefit from integration into the Group, bringing together Air France, KLM and Transavia, as well as close relationships with Delta Air Lines and Virgin Atlantic, partners of Air France-KLM in a transatlantic joint venture.


In Thursday’s announcement, Air France-KLM Group’s CEO, Benjamin Smith, said,


“We recognise the value of what TAP has built over the past 81 years: a strong hub in Lisbon, a strong brand and a unique offering that makes millions of Portuguese proud by offering them quality connectivity.  We are convinced that the next chapter in the company’s history must be written within Air France-KLM, building on this legacy to enable TAP to take a new step.  TAP is a natural fit into Air France-KLM’s multi-hub strategy and our ambition is to strengthen operations in Lisbon while developing routes from other cities in the country, especially Porto. We look forward to the next steps in the privatization process.”


Air France-KLM’s approach to consolidation is based on cooperation within a clear framework, designed to maximize economic and operational synergies.  This model would allow TAP to take full advantage of its integration into a robust, leading Group.  The economies of scale and global presence would also strengthen the Group’s competitiveness. Air France-KLM has a strong track record in the development and enhancement of historic brands, and intends to enable TAP to remain true to their Portuguese heritage, making their identity an asset on a global scale.  The non-binding offer was submitted to Parpública on 2 April 2026. It confirms the Group's continued and sustained interest in TAP.


 

Source: Air France-KLM Group

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