Air France-KLM today\u00a0announced it has\u00a0submitted\u00a0a binding offer to\u00a0Parp\u00fablica\u202ffor the acquisition of a 44.9% to 49.9% stake in TAP Air Portugal, marking a\u00a0decisive\u00a0step in the airline\u2019s privatization process. This offer\u00a0takes the form of a comprehensive\u00a0strategic plan to strengthen TAP, with detailed projections of job and value creation\u00a0throughout\u00a0Portugal.\u00a0\u00a0<\/p>\n
The bid\u00a0is\u00a0welcomed by\u00a0Air\u00a0France-KLM\u00a0joint venture partner and shareholder\u00a0Delta\u00a0Air Lines. Delta Air Lines\u2019 support and alignment reflects a shared ambition should TAP join Air France-KLM: to further strengthen Portugal\u2019s global connectivity, particularly on the North Atlantic.<\/p>\n
Benjamin Smith, CEO of the Air France-KLM Group said:\u00a0“For the past\u00a0three\u00a0years, our teams have worked\u00a0closely with Portuguese stakeholders\u00a0to\u00a0come up with\u00a0our\u00a0strongest proposal\u00a0for TAP. What we have\u00a0submitted today is not\u00a0just\u00a0a proposed\u00a0price\u00a0for an airline.\u00a0It is\u00a0a strategic,\u00a0extensive,\u00a0and comprehensive long-term\u00a0plan\u00a0for TAP and for Portugal\u00a0as\u00a0a\u00a0whole. It is also a vision\u00a0of where we would like to take\u00a0this\u00a0esteemed flag carrier, expanding on the legacy of what has been built by TAP\u2019s talented people over the past 81\u00a0years. Moreover, we are pleased to count on the support and alignment of our long-time partner\u00a0Delta Air Lines. Our overarching goal to ensure long-term growth for TAP, not only in Lisbon but also in Porto and other cities in Portugal,\u00a0and to do so\u00a0sustainably,\u00a0as part of a robust\u00a0and\u00a0international group determined to bring value\u00a0to its airlines\u2019 home countries. Through this offer, Air France-KLM reaffirms its commitment to create a European global aviation champion, actively supporting European sovereignty.\u201d\u00a0<\/p>\n
Ed Bastian, CEO of Delta Air Lines said: “Delta supports\u202four joint venture partner Air France-KLM’s proposed investment in TAP, which would enhance trans-Atlantic travel options and Portugal’s role as an enhanced\u00a0business and leisure destination. We’re looking forward to seeing Air France-KLM and TAP grow across the Atlantic for years to come, providing more choice, better connectivity and a stronger network for travelers.”<\/p>\n
A long-term strategy for a stronger TAP and more connected Portugal<\/p>\n
If selected,\u00a0Air France-KLM\u00a0would position\u00a0Lisbon\u00a0as its\u00a0unique\u00a0Southern European hub, reinforcing the Group\u2019s global network and expanding connectivity to key markets, particularly in\u00a0the Americas and\u00a0Africa.\u00a0TAP\u2019s leading position on\u00a0strategic\u00a0routes to Brazil\u00a0would be a strong complement to Air France-KLM\u2019s existing route portfolio,\u00a0which\u00a0is already connected to a dense domestic network in Brazil as part of a\u00a0long-standing partnership with Brazilian carrier GOL.<\/p>\n
Should it join Air France-KLM,\u00a0TAP would\u00a0enter into the Group\u2019s global commercial network, which covers Air France, KLM and Transavia. Following the confirmation of Air France-KLM as a successful bidder for the investment in TAP, Delta would promptly commence negotiations with TAP on a strategic commercial agreement involving, among other things, reciprocal codeshare and loyalty benefits. Delta would also share best practices to maximize customer experience for our joint customers.\u00a0 This enhanced level of commercial partnership would provide benefits to our joint customers by offering more options and a stronger network across the transatlantic.<\/p>\n
Air France-KLM\u2019s unique approach to consolidation prioritizes cooperation within a clear framework designed to maximize economic and mutually beneficial operational synergies, with a strong focus on social dialogue. TAP\u00a0would\u00a0fully\u00a0benefit\u00a0from a smooth integration into a larger, robust group, with economies of scale and a global reach, thereby strengthening its\u00a0competitive position. Such cooperation would extend to all business areas and include a focus on decarbonization, a key strategic priority for both Air France-KLM and TAP.\u00a0<\/p>\n
Fostering the development of MRO activities in Portugal alongside TAP Maintenance &\u00a0Engineering\u00a0<\/p>\n
As part of the binding offer\u00a0submitted\u00a0today, Air France-KLM laid out its plan to develop new Maintenance,\u00a0Repair\u00a0and Overhaul (MRO) activities in Portugal, complementary to the continued development of the Group\u2019s own activities in France and Netherlands. This would be achieved in close cooperation between Air France-KLM and TAP\u2019s respective MRO divisions that have been partners\u00a0for over 20 years.\u00a0<\/p>\n
The roadmap would include opening new MRO facilities\u00a0in key areas of Portugal,\u00a0dedicated to the maintenance of latest generation aircraft and engines, a core area of expertise for both partners. These projected investments would generate highly skilled jobs to the benefit of the Portuguese economy.<\/p>\n
TAP would also gain access to new business opportunities and to the Air France-KLM Group\u2019s innovative technologies, notably covering digital initiatives and AI integration for MRO.\u00a0<\/p>\n
Air France Industries KLM Engineering Maintenance\u00a0is one of the world\u2019s leading MRO providers, supporting more than 3,000\u00a0aircraft\u00a0operated by over 200 customers worldwide. The Group continuously invests in next-generation capabilities to strengthen its position in this fast-growing market.<\/p>\n
Safeguarding and strengthening TAP\u2019s key assets<\/p>\n
Air France-KLM’s offer fully\u00a0complies with\u00a0the requirements set forth by the Portuguese government.\u00a0It aims to maximize synergies in all areas of the business while\u00a0maintaining\u00a0and nurturing\u00a0TAP\u2019s key assets, including its management, brand, network and headquarters in Portugal,\u00a0as well as\u00a0its\u00a0hub\u00a0in Lisbon.\u00a0\u00a0<\/p>\n
As part of the privatization process, representatives and senior management from Air France-KLM have met with key stakeholders in Portugal to better understand their\u00a0needs and\u00a0expectations.\u00a0The Group\u00a0brings\u00a0extensive experience working alongside\u00a0public\u00a0shareholders and\u00a0views air connectivity as being of vital and strategic importance to a nation, capable of stimulating economic development and international influence.\u00a0\u00a0<\/p>\n
The binding offer was\u00a0submitted\u00a0to\u00a0Parp\u00fablica\u00a0on July 29, 2026. It confirms the Group\u2019s unwavering,\u00a0strong\u00a0and continued interest in TAP.\u00a0\u00a0<\/p>\n
About Air France-KLM<\/p>\n
A global player with a strong European base, the Air France-KLM Group\u2019s main areas of business are passenger transport, cargo transport and aircraft maintenance. Air France-KLM is a leading airline Group in terms of international traffic on departure from Europe. It offers its customers access to a worldwide network, covering over 320 destinations through Air France, KLM Royal Dutch Airlines and Transavia, mainly from its hubs and bases at Paris-Charles de Gaulle, Paris -Orly and Amsterdam-Schiphol. The Group\u2019s Flying Blue loyalty program is one of the leaders in Europe with over 35 million members. Together with its partners Delta Air Lines and Virgin Atlantic, Air France-KLM operates the largest joint venture between Europe and North America in terms of seat capacity offered. Air France-KLM is also a founding member of SkyTeam, the alliance dedicated to providing passengers with a more seamless travel experience at every step of their journey with 19 member airlines working together across an extensive global network.<\/p>\n
The Air France-KLM Group\u2019s airlines – Air France, KLM and Transavia – have been serving Portugal since 1940 and operate services to 5 airports in the country: Lisbon, Porto, Faro, Funchal and Ponta Delgada. A KLM DC-3 made history by inaugurating commercial service at Lisbon\u2019s Portela Airport in 1942.<\/p>\n
On March 27, 2026, Air France and KLM presented an ambitious flight schedule for the Summer 2026 season, marked by an 11% capacity increase in Portugal. Together with Transavia, the Group operates up to 346 weekly frequencies across 29 routes connecting Portugal with France, the Netherlands and Belgium this summer season. Since 2019, Air France and KLM have increased their capacity in Portugal by 44%.<\/p>\n
In 2025, Air France-KLM carried 103 million passengers using a fleet of over 580 aircraft. It posted a \u20ac33 billion revenue and has a global workforce of 80,000.<\/p>\n
Investor Relations\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n
Michiel Klinkers\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Loulou de Winter\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n
[email\u00a0protected]<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0[email\u00a0protected]<\/a><\/p>\n
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