Yesterday, April 2, the Air France-KLM Group submitted a non-binding offer to acquire a minority stake in TAP Air Portugal. The move confirms the Group’s continued and serious long-term interest in TAP.
“We appreciate what TAP has built over the past 81 years: a strong hub in Lisbon, a recognizable brand and a unique offering that provides connectivity and inspires pride among millions of Portuguese people. We firmly believe that the next chapter in TAP’s history could be written within the Air France-KLM Group. The Portuguese carrier fits naturally into our multi-hub strategy, and our goal is to strengthen operations in Lisbon and expand connections in other Portuguese cities, including Porto. We look forward to the next stages of the privatization process,” said Benjamin Smith, CEO of Air France-KLM.
If the acquisition is completed, Lisbon would become a unique southern European hub for the Group. Thanks to its strategic geographic location, it offers strong connectivity, particularly to the Americas — including Brazil, a key market for both TAP and Air France-KLM — as well as to Africa.
According to Air France-KLM, TAP would benefit from integration into a global commercial structure that includes Air France, KLM and Transavia, as well as close cooperation with Delta Air Lines and Virgin Atlantic — the Group’s partners in the transatlantic joint venture. This would help TAP pursue its vision of “opening to the world.” Given that the route networks of TAP and Air France-KLM are largely complementary, Portugal as a whole would benefit from improved access to destinations worldwide.
Air France-KLM emphasizes that its approach to consolidation is based on cooperation within clearly defined frameworks designed to maximize both economic and operational synergies. This model would allow TAP to integrate smoothly into a larger, stable group benefiting from scale and global reach, thereby strengthening its competitiveness. The cooperation would cover all areas of operations, including decarbonization efforts — a key strategic priority for Air France-KLM.
The Group, which has extensive experience in supporting and developing integrated brands with strong national heritage, intends to enable TAP to preserve its Portuguese identity while leveraging it internationally. This would support TAP’s sustainable development and regional growth, while also ensuring the continuation of routes important for the Portuguese diaspora, in line with the requirements set by the Portuguese government. According to Air France-KLM, such partnerships confirm the strategic importance of aviation for national economies.
The non-binding offer was submitted to Parpública on April 2, 2026. It underscores Air France-KLM’s ongoing and serious long-term interest in TAP Air Portugal.
