Air France-KLM has confirmed its intention to bid for a stake in TAP Air Portugal, the nation's flag carrier. This development arises amid interest from several European airlines in acquiring TAP Air Portugal, as Portugal's center-right government moves towards privatization.
Air France-KLM CEO Ben Smith said in a statement seen by Bloomberg, "Air France-KLM stands ready to present its candidacy as part of the TAP privatization process. " The Portuguese government is considering selling at least 49% of TAP Air Portugal.
Smith emphasized the significance of TAP, stating that it is "an emblematic company which has built a powerful hub in Lisbon that is open to the world. " Air France-KLM is open to acquiring either a majority or minority stake.