Both Air France-KLM Group and Lufthansa Group have now submitted binding offers to acquire a minority stake in TAP Air Portugal following on from their non-binding bids in April 2026. On July 29, 2026, Air France-KLM was first out of the starting blocks confirming that its offer was for a 44.9% to 49.9% stake in TAP Air Portugal. Later, Lufthansa showed its cards and announced that it too had submitted a bid for a minority stake in the Portuguese airline
In its statement, Air France-KLM stated that it had a “comprehensive strategic plan to strengthen TAP, with detailed projections of job and value creation throughout Portugal”.
If selected, Air France-KLM said it would “position Lisbon as its unique Southern European hub” and partner Delta Air Lines, which publicly supports the bid, said if successful the US carrier “would promptly commence negotiations with TAP on a strategic commercial agreement involving Air France-KLM also emphasized plans to develop new Maintenance, Repair and Overhaul (MRO) activities in Portugal, generate highly skilled jobs and increase Portuguese connectivity