TAP Air Portugal has been a target for acquisition by larger airline groups in Europe, including Lufthansa Group, Air France-KLM, and the International Airlines Group. These groups see TAP as a valuable asset that could help expand their South American networks. However, the Portuguese government is not satisfied with the offers on the table because it wants to retain a 51% stake in the national airline to stay involved in its operation and strategy.
The International Airlines Group believes that Portugal’s intention to keep a stake makes any offer unattractive. Lufthansa and Air France-KLM have not commented on this development, but they have shown interest in smaller stakes in partner airlines in the past. While the previous socialist government in Portugal wanted to maintain a stake in TAP, the current government’s plan remains undisclosed.
In the past, IAG attempted to acquire Air Europa but faced pushback from the European Commission. Analysts believe that TAP Air Portugal would be a better fit for IAG due to its different hubs and markets compared to Iberia. Recent consolidation efforts in the European airline industry have seen larger groups taking over smaller airlines, with some bids failing and others succeeding.
Overall, the future of TAP Air Portugal remains uncertain as the Portuguese government seeks to maintain a majority stake in the airline amidst interest from major European airline groups. The outcome of these negotiations will have significant implications for the airline industry in Europe and beyond.