Transportation
Air France-KLM Plans to Bid for Stake in Portugal’s TAP Airline
A bus departs the gate to TAP SA passenger jet at Lisbon Airport.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Air France-KLM said it plans to participate in the privatization process of Portugal’s state-owned airline TAP SA, calling the country a “strategic market” for the Paris-based carrier.
“Air France-KLM stands ready to present its candidacy as part of the TAP privatization process,” Chief Executive Officer Ben Smith said in a statement on Friday. TAP is “an emblematic company which has built a powerful hub in Lisbon that is open to the world.”