‍DALLAS — Air France-KLM has confirmed that it will bid in the upcoming privatization of TAP Air Portugal (TP) announced by the Portuguese government. 

The French-Dutch carrier grouping stated that it had reviewed the terms of reference released this week and would submit its expression of interest before November 22. 

Parpública, the state holding control of the process, was clear in stating that parties willing to take part must file their paperwork by 16:59 on the day of closure.

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Strategic, Financial Considerations

Portugal's government aims to sell as much as 49.9% of TAP by direct sale. Bank of America Europe and Caixa Banco de Investimento will offer financial consultation, and Uría Menéndez Abogados will provide legal assistance.

Air France-KLM joins Lufthansa and IAG, which includes British Airways and Iberia's parent, to consider a possible stake in assessing a strong interest in Portugal's carrier.

Future Opportunities

Candidates will be selected based on 11 evaluation criteria, including price, long-term industrial planning, and adherence to existing labor commitments. The privatization of TAP is expected to attract strategic investors who can strengthen the airline’s transatlantic network and provide financial stability. 

If successful, this transformation will be monumental for TAP, with growing opportunities for Lisbon as the key hub for flights across Europe, Africa, and South America.