A delegation from the Air France-KLM group visited the Azores this week to better understand the region’s air connectivity needs amidst the ongoing privatization process of TAP. The delegation met with local stakeholders to grasp the importance of connectivity for the mobility of Azorean residents and regional development.
The delegation, which included the senior vice president of M&A projects at Air France-KLM, Frédéric Kahane, and the general director for the Iberian Peninsula, Laurent Perrier, visited the Ponta Delgada Chamber of Commerce and Industry.
This visit occurs as the government progresses with the sale of up to 44.9% of TAP, attracting interest from major international groups such as Lufthansa and IAG, which owns Iberia and British Airways.
Connectivity with the archipelagos, particularly the Azores, is emphasized as a condition in the sale, as TAP plays a crucial role in linking the autonomous regions with the mainland and enhancing international routes serving Portuguese communities abroad.
The terms of the sale stipulate that 5% of the capital will be reserved for employees, according to the Privatization Law, allowing the future buyer a preference right over any unsubscribed shares.
Candidates must submit their expressions of interest to Parpública, the manager of state holdings, by November 22.
