“We are interested in pursuing this opportunity, assuming that it is within our strategic ambitions and that we are capable of fulfilling what the Portuguese Government is looking for,” said the CEO of the Franco-Dutch airline group, Benjamin Smith, in a press conference call on the third quarter results.

When asked about the recent dialogue with the Portuguese Government, within the scope of the TAP privatisation process, the official said that it was a “very positive” first meeting, stressing that the official process has not yet moved forward.

Air France-KLM had expressed interest in the sale of the Portuguese airline, also admitting the possibility of a minority stake.

On October 10, at a press conference on the proposed State Budget for 2025, the Minister of Finance said that the Government was in preliminary talks with the three airline groups that had expressed interest in buying TAP, but did not commit to a date for privatisation.

“We are in talks with the three airlines [Lufthansa, Air France-KLM and IAG] that have expressed interest in privatising the company. This is a preliminary dialogue. We are analysing the intentions of each of these companies,” said Joaquim Miranda Sarmento.

Miranda Sarmento reiterated that the Government has two objectives for the sale of the flag carrier, which are to maintain the Lisbon hub (flight distribution platform) and to develop TAP in terms of routes, and the second is to try to recover in the medium or long term part of the money that the State injected into the recovery of the airline.

At the end of October, the Minister of Infrastructure confirmed that he has participated in meetings with potential parties interested in buying TAP and that the government's intention is to close this process “by the end of 2025”.

“The intention is to reach 100% privatisation, but we have to listen to the market. We have to value the company's assets and maximise the proceeds from the sale, with a strategy to return to the Portuguese people the 3.2 billion euros that were injected by taxpayers”, stated Miguel Pinto Luz, on the sidelines of the inauguration of a residential complex in Vila do Conde.

When asked about the stakes in the company that potentially interested groups intend to hold, Miguel Pinto Luz said that there are several alternatives on the table.