Government has received valuations for TAP sale

Portugal’s government has now received valuations for national airline TAP from EY and Finantia bank in preparation for the carrier’s sale according to Bloomberg.

The Ministry of Finances confirmed on June 20 that a privatization decree will be approved by the Council of Ministers in the next few weeks for the sale of 49% of the airline.

“It will not be a majority share privatisation”, said Joaquim Miranda Sarmento in an interview with SIC/Expresso.

“We will study the best way of maximising what’s best for the country’s interest which means maintaining the hub (in Lisbon), and the company’s continued expansion – because it is critical for Portugal’s tourism industry, and also get the best possible deal”, he added.

The minister said that there were “many interested parties in TAP” whatever the figure might be”. For many months the three large airline groups Air France-KLM, Lufthansa and IAG (British Airways and Iberia) have shown interest in buying a share in TAP.

The valuations have not been made public yet by the government. Last year TAP made €53.7 million, a fall of 69.7% on 2023.

In the first three months of 2025, TAP posted a loss of €108.2 million, +18.1 million than 1Q in 2024.