Despite reports stating that Air France-KLM had lost interest in acquiring TAP Air Portugal (TP, Lisbon) due to the recent political instability in the European country, the company told Bloomberg it remains “highly interested in the TAP privatisation project, and we’re waiting for the next steps.”

Portugal’s new minority centre-right government is reportedly carrying out the privatisation of the flag carrier, it said in its inaugural legislative programme on April 10, Reuters reported. However, it did not specify whether it was planning to sell all of TAP or just a stake in the airline.

Prime Minister Luis Montenegro previously told the news agency he intended to fully privatise TAP, unlike the previous government, which had only approved the sale of 51% of the company, in a process that stalled after former Prime Minister António Costa resigned.

Several companies are closely following TAP’s developments, including IAG International Airlines Group, which said it would be interested in acquiring the airline if conditions are right. IAG and Air France-KLM are looking at TAP’s sizeable presence in markets such as Africa and Brazil.

ch-aviation has reached out to Air France-KLM for comment.

However, both IAG and Air France-KLM are currently in the midst of other consolidation projects. IAG is looking to acquire Air Europa through its Iberia subsidiary, while Air France-KLM is seeking a majority stake in SAS Scandinavian Airlines.