Air France-KLM Bids for Minority Stake in TAP Portugal
Air France-KLM submitted a non-binding offer for a minority stake in TAP Air Portugal today. The bid comes as Lisbon seeks to privatize the national carrier.
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The Franco-Dutch aviation giant AIR FRANCE-KLM has officially submitted a non-binding offer to acquire a minority stake in TAP Air Portugal, as the government of Portugal moves forward with its privatization plans. This bid marks the first formal step by a major European airline group to secure a piece of the carrier, with Lisbon looking to divest up to 49.9% of the company's shares.
