Portugal’s government is considering selling at least 49% of its national airline, TAP Air Portugal, as part of a long-planned privatization process expected to commence in March 2025. The sale could be completed by the end of the year or in the first half of 2026. This move comes as the government seeks to revitalize the airline and attract strategic investors, Bloomberg.com published.
Several major European airline groups, including Lufthansa, Air France-KLM, and International Airlines Group (IAG), have expressed interest in acquiring a stake in TAP. The Portuguese government has recently engaged in discussions with these potential investors to gauge their interest and outline the terms of the privatization.
In a related development, former TAP shareholder Azul Airlines is seeking the repayment of a €90 million loan extended to TAP in 2016. Azul’s CEO, John Rodgerson, emphasized the company’s expectation that the debt will be settled, noting, “It’s very clear that Azul lent money to TAP, I don’t think anyone denies that.” Azul has hired a law firm in Portugal to ensure the debt is repaid in advance of TAP’s potential privatization.
