Air France-KLM is at the forefront of the battle for the privatisation of TAP Air Portugal, emphasises CEO Ben Smith. The Portuguese state is putting the airline up for sale.
Air France-KLM is not just expressing interest with words. Last week, the CEO of the Franco-Dutch company visited the Portuguese capital alongside French president Macron. There, the parties involved discussed a possible equity stake in TAP Air Portugal for Air France-KLM. The exact details of the stake is not yet known. However, the Portuguese government is offering a majority stake of 51 percent.
‘Air France-KLM is ready to put itself forward as part of the privatisation process of TAP,’ said Smith. According to him, TAP Air Portugal, together with Lisbon, has ‘built a strong hub that is open to the world.’ Here he refers to the Portuguese airline having by far the largest amount of connections between the European Union and Brazil. Together, both markets involve over 660 million consumers.
Clear Interest
In 2023, Smith already made his interest clear in the Portuguese airline. He calls the Portuguese market and the airline’s connections ‘strategic’. The Portuguese government announced in 2023 its intention to privatise the airline while looking at further development of aviation in the country.
‘The content of the decree includes objectives for the growth of TAP, the growth of the national hub, growth and employment within the aviation sector, better use of national airports and pricing,’ said Minister of Finance Fernando Medina to reporters at the time.