The International Airlines Group (IAG) has submitted a declaration of interest to Parpública in the privatization process of TAP, announced the group owning British Airways and Iberia, a day before the deadline.
“IAG confirms that it has submitted a declaration of interest to Parpública in the context of the Government’s process for the partial privatization of TAP. However, several issues need to be clarified before IAG can propose an investment,” stated an official source from the group in a declaration released today.
The Government plans to sell up to 44.9% of the airline’s capital, reserving 5% for employees, as stipulated by the Privatization Law. If this portion is not fully subscribed, the future buyer will have a right of preference.
Lufthansa has delivered its expression of interest to Parpública in the TAP privatization process, two days before the defined deadline, November 22, announced the German group today.
Lusa | 11:05 – 20/11/2025
Starting November 22, Parpública, the company managing state holdings, has 20 days (until December 12) to submit a report to the Government describing the interested parties and evaluating their compliance with participation requirements.
Within 20 days from the report’s availability, those who have demonstrated compliance with the requirements will be invited to submit a non-binding proposal.
This second phase of the process, which will be divided into four stages, requires the proposal to include, among other things, the price offered for acquiring shares and information on how to obtain the financial means necessary to complete the purchase.
Air France-KLM submitted its expression of interest in the TAP privatization process to Parpública on Tuesday, ahead of the deadline on November 22.
Lusa | 07:34 – 19/11/2025
Applications can be submitted by national or foreign operators, individually or in consortium, provided they meet defined criteria, including revenues exceeding 5 billion euros in at least one of the last three years and proven experience in the aviation sector.
Proposals will also be evaluated based on fleet reinforcement, investment in maintenance and engineering, commitment to sustainable fuels, respect for labor commitments, and vision regarding potential strengthening of the shareholder position, according to the recently published terms.
As announced by the Government in July, the privatization of TAP — which also includes Portugália, TAP Health Care Unit, Cateringpor, and SPdH (formerly Groundforce) — is expected to take about a year, although the final schedule depends on regulatory approvals.
[News updated at 10:56]
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