T Final Bids From Air France-KLM and Lufthansa Have Been Submitted
The airlines said their bids improve on July offers and will be assessed on investment, fleet growth and labor commitments.
- Air France-KLM and Lufthansa submitted final bids today for the privatization of 44.9% of TAP Air Portugal's share capital, with revised proposals expected to improve upon offers made on July 29.
- Minister for Infrastructure and Housing Miguel Pinto Luz announced Monday that the Government would receive final bids by Wednesday and then have 15 days to evaluate them before selecting an investor.
- Air France-KLM Group CEO Benjamin Smith stated the group "reiterated its strong and continued interest in TAP Air Portugal by submitting its final proposal for a shareholding of up to 49.9% in the airline." The group proposed Lisbon as its exclusive hub in Southern Europe.
- Lufthansa stressed its proposal reflects "the conviction" that the Lufthansa Group is the best partner to support TAP's future growth and strengthen its competitiveness as Portugal's flag carrier.
- The Government will draw up a descriptive report assessing the final merit of each bid, then forward it to Ministers responsible for finance and air transport. Final approval requires Council endorsement and European competition authority clearance.
19 Articles
19 Articles
Reformatorisch Dagblad
Air France-KLM and Lufthansa have both made improved, final offers for a substantial stake in the Portuguese airline TAP. This was reported by Parpública, the manager of Portugal's state shareholdings. The decision is expected in mid-October.
The global CEO of Air France-KLM, Ben Smith, pointed out the plan to further strengthen Portugal's connection with Brazil made today by TAP. The signaling was made in publication in a social network minutes after the company sent a final proposal to buy TAP to the Portuguese government. The group disputes the asset with other global airlines, such as Lufthansa. TAP is fundamental to Brazil's international connectivity. The airline flies to 15 ci…
Observador
Correio da ManhãAccording to the Minister of the Presidency, Leitão Amaro, the proposals are "globally so close that the best for the national interest is to have an additional, final phase of negotiation with both"
Air France-KLM and Lufthansa deliver this Wednesday the improved final proposals for the purchase of 44.9% of TAP. The government then has about 15 days to evaluate the offers, which points to a decision in mid-October.
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