TAP Air Portugal (TP, Lisbon) has fulfilled the final commitments under its restructuring plan agreed with the European Commission in 2021 following the sale of its stakes in catering provider Cateringpor and ground handling firm SPdH, the airline and the Portuguese government announced.
By completing these transactions, “TAP is in full compliance with the remaining commitments set out in the European Commission decision of December 21, 2021,” the airline said in a statement, “thereby concluding” its restructuring plan and “strengthening its capacity to implement the next phase of its disciplined and sustainable growth plan.”
The Portuguese state is preparing to sell up to 49.9% of TAP Air Portugal, with 44.9% to be acquired by a private investor (either Air France-KLM or Lufthansa Group) and the remaining 5% reserved for the airline's employees. However, its sale faces a legal challenge from Brazilian carrier Azul Linhas Aéreas Brasileiras, which is claiming the full payment of a 2016 bond loan, that totals approximately EUR189 million euros (USD217 million).
TAP completed the sale of its 51% stake in Cateringpor to Swiss company Gate Gourmet, already a shareholder in the business, in April 2026. It then completed the sale of SPdH (Serviços Portugueses de Handling) in May 2026.
TAP's restructuring plan, approved in 2021 following the aviation sector crisis caused by the COVID-19 pandemic, included a wide-ranging package of operational and financial restructuring measures, the disposal of non-core assets, and competition remedies designed to safeguard the European market.
Portugal is also required to divest a majority stake in state-owned regional carrier Azores Airlines (S4, Ponta Delgada), which is currently part of the Grupo SATA group. It has until the end of the year to do so.
