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Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Lufthansa and Air France-KLM are the two remaining bidders for a partial stake in TAP Air Portugal. Portugal opened an extra negotiation stage on 4 September 2026 after the offers received very close overall evaluations, changing an earlier timetable that pointed to a decision around late August or early September. Air France-KLM said on 30 September that it had submitted its final offer. The Portuguese government material available as of 8 October 2026 does not name a winner or disclose either bid’s price.
Who is bidding for TAP?
The Portuguese government’s process identifies Lufthansa and Air France-KLM as the two remaining competitors. Both submitted binding proposals. On 4 September 2026, the Council of Ministers authorized three more weeks of negotiations for improved final proposals, saying the bids differed in content but had very close overall evaluations. It said it would select one competitor for final negotiations after that stage. The government’s announcement and the formal resolution do not identify a preferred bidder.
Air France-KLM announced on 30 September that it had submitted a final offer for up to 49.9% of TAP. Chief Executive Benjamin Smith called it an “ambitious long-term plan” and said it would make Lisbon the group’s exclusive Southern hub. The company also said it intended to create jobs and value in Portugal. Those are the bidder’s plans and claims, not confirmed outcomes; the announcement does not state an offer price. Read Air France-KLM’s announcement.
How much of TAP is Portugal selling?
This is a partial privatization, not a sale of the whole airline. The government’s July 2025 plan described an allocation of up to 49.9%: up to 44.9% to a reference investor and up to 5% reserved for employees. The formal September 2026 resolution describes the direct-sale process as covering up to 44.9% of TAP’s share capital. These figures refer to the overall plan and the direct sale respectively; they are not bid valuations. The 2025 government announcement sets out the initial structure.
#1 Best Overall
- Authentic TAP Air Portugal Model: Officially licensed Flight Miniatures model of the Boeing 727-200 aircraft featuring the TAP Air Portugal livery.
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What will Portugal consider when comparing the offers?
The government has said it will weigh the share price, the buyer’s financial capability, its industrial plan and air connectivity. Its stated priorities include protecting connections with Portugal’s autonomous regions, diaspora and Portuguese-speaking countries; expanding operations at national airports, particularly Porto; strengthening maintenance and engineering in Portugal; investing in the fleet; supporting growth over ten years; and advancing sustainability. The government’s April 2026 announcement describes the invitation to binding offers and those priorities.
Although the government said the proposals’ overall evaluations were very close, it has not published a scorecard, ranking, bid prices, specific route commitments or employment terms. The available public information therefore does not establish which offer is financially stronger or better fits each stated priority.
Rank #2
- Portuguese Elegance: Elevate your aircraft collection with the Flight Miniatures TAP Air Portugal A340-300 1:200 Scale model, a tribute to the timeless elegance of TAP Air Portugal. This meticulously crafted replica captures the iconic livery, showcasing the airline's distinctive red and green colors along with the famous TAP logo.
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Why did the expected decision timetable change?
On 23 April 2026, the government invited both groups to submit binding proposals and forecast a decision around the end of August or beginning of September. On 4 September, instead of announcing a winner, the Council of Ministers opened a further three-week negotiation period for improved final offers. The later official decision supersedes the earlier forecast. Air France-KLM announced its final offer on 30 September; the government material cited here does not confirm the outcome of the negotiation stage.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What does TAP’s restructuring status mean?
Portugal said TAP completed the restructuring process monitored by European institutions since 2021 on 1 July 2026. The government described that completion as a milestone giving the airline greater predictability for future growth and development while privatization proceeds. It does not, by itself, mean the sale is complete or indicate which bidder will be selected. The government’s statement on the restructuring milestone gives its characterization.
Quick Recap
Best Value
- Authentic TAP Air Portugal Model: Officially licensed Flight Miniatures model of the (79-05) L-1011 aircraft, showcasing the distinctive TAP Air Portugal livery and logo.
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Rank #4
- Highly Detailed Replica: The Flight Miniatures TAP Air Portugal A310-300 model features meticulous attention to detail, capturing the essence of the real aircraft with precision.
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Rank #3
- ✈️ TAP AIR PORTUGAL A330 AIRCRAFT MODEL Detailed replica of the Airbus A330 passenger aircraft in TAP Air Portugal livery designed for aviation collectors and enthusiasts.
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- 🎁 PERFECT GIFT FOR AVIATION ENTHUSIASTS Ideal gift for pilots, airline fans, aircraft collectors, and travel lovers.
- 📏 LARGE COLLECTIBLE DISPLAY SIZE Measures approximately 18.5 inches in length with a 1:80 scale, creating an impressive aviation display piece.
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