Both Air France-KLM Group and Lufthansa Group have now submitted binding offers to acquire a minority stake in TAP Air Portugal following on from their non-binding bids in April 2026. On July 29, 2026, Air France-KLM was first out of the starting blocks confirming that its offer was for a 44.9% to 49.9% stake in TAP Air Portugal. TAP Air Portugal is owned wholly by the Portuguese state with the country’s investment company, Parpública managing the bidding process. Under the article, Air France-KLM and Lufthansa will be issued draft agreements to sign if they ultimately win the bidding contest. Our interest in taking a stake in our Star Alliance partner TAP Air Portugal is the next logical step.