Air France KLM has confirmed it is preparing a non binding offer as part of the ongoing privatisation process of TAP Air Portugal, describing the Portuguese carrier’s route network as highly complementary to its own operations.
The Franco Dutch aviation group was selected as one of three European airline groups to move forward to the second phase of the TAP privatisation process. Speaking during the presentation of the group’s 2025 financial results, Chief Financial Officer Steven Zaat stated that work is underway on a preliminary proposal.
While declining to disclose confidential details, Zaat indicated that recent discussions with TAP management had been constructive. He described having a pleasant conversation with the Portuguese airline’s leadership and emphasised that the outcome of the process would depend on mutual comfort regarding the structure of any potential partnership.
TAP Air Portugal plays a strategic role in transatlantic connectivity, particularly between Europe and Brazil, as well as other destinations in South America and Africa. For Air France KLM, whose primary hubs are based in Paris and Amsterdam, the addition of TAP’s Lisbon based operations could strengthen southern European connectivity and expand access to Portuguese speaking markets.
The Portuguese government has been advancing plans to privatise TAP in stages, aiming to attract strategic investors capable of reinforcing the airline’s competitiveness while preserving its importance to the national economy. Lisbon’s Humberto Delgado Airport remains a critical gateway for tourism, business travel and long haul international routes.
Industry analysts note that TAP’s network overlaps only partially with Air France KLM’s existing routes, making the Portuguese airline an attractive complement rather than a direct competitor. Lisbon’s geographic position offers a natural bridge between Europe, the Americas and parts of Africa, aligning with broader aviation consolidation trends across the continent.
Air France KLM has in recent years focused on improving profitability and operational resilience following pandemic related disruptions. A successful bid for TAP could enhance the group’s market share in key transatlantic corridors and provide additional scale within the European aviation sector.
Competition for TAP remains active, with other major airline groups also participating in the process. The second phase of the privatisation is expected to clarify strategic visions, governance proposals and financial commitments from each contender before the Portuguese authorities determine the preferred partner.
For Portugal, the privatisation represents both an economic decision and a strategic one. The government has consistently stressed the importance of safeguarding employment, maintaining Lisbon as a hub and ensuring continued connectivity to priority international destinations.
As discussions continue, Air France KLM has signalled that it sees long term potential in a partnership that could integrate TAP into its broader organisational structure while preserving the strengths of the Portuguese brand.
