TAP Air Portugal is set for a major ownership shift as Air France-KLM and Lufthansa compete to buy 44.5% of the airline in a landmark privatization bid. The Portuguese government has a month to evaluate their financial offers and strategic plans for TAP’s future, with a goal to finalize the deal by September and see new management influence by 2026. While the state retains majority control, this marks a pivotal step toward a new era for Portugal’s national carrier, with full integration expected by summer 2027.

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