Air France-KLM and Lufthansa Group have submitted binding bids to acquire between 44.9% and 49.9% of TAP Air Portugal (TP, Lisbon) from Parpública, the Portuguese state-owned investment holding. Neither party disclosed the value of their bid.
Both bidders stressed their intention to preserve Lisbon as a hub should their offer be chosen. They both revealed plans to strengthen Portugal's connectivity, including on transatlantic routes to North and South America, and the intention to help grow employment in the country.
Air France-KLM additionally flagged its plans to invest in MRO in Portugal, developing TAP's capabilities in this segment based on the existing partnership with Air France Industries KLM Engineering & Maintenance.
"The roadmap would include opening new MRO facilities in key areas of Portugal, dedicated to the maintenance of latest generation aircraft and engines, a core area of expertise for both partners," the holding said.
The Franco-Dutch firm also highlighted that its bid was supported by minority shareholder Delta Air Lines, which pledged to begin negotiating a "strategic commercial agreement" with TAP if the bid is chosen.
Meanwhile, Lufthansa Group highlighted that TAP was already an alliance partner through Star Alliance. It underlined that Lisbon would become the group's "strategic hub" focused primarily on serving South America.
The group also recalled that it already invests in the MRO segment in Portugal, with the recent start of construction of a new Lufthansa Technik engine parts and aircraft components facility in Santa Maria da Feira, south of Porto.
