Overview

• Prime Minister Luís Montenegro formally launched the tender on July 10 to sell 49.9% of the airline.
• The package includes a 5% stake reserved exclusively for TAP employees.
• Initial privatization plans emerged in late 2023 but stalled through three elections and government changes.
• TAP rebounded from a €1.6 billion pandemic loss to three years of profits, including €54 million in 2024.
• Lufthansa, Air France-KLM and IAG are among the major carriers lining up to bid for the stake to expand the Lisbon hub.