TAP: Air France-KLM looks forward to a new round of negotiations

“ A Air France-KLM takes note of the Portuguese Government’s decision to move on to an additional round in TAP’s privatisation process,” he said in a note sent to Lusa.

“The continuous participation of the Group at this stage reflects its unaltered interest in TAP,” he pointed out, pointing out that he is waiting “with expectation for the next phase of the process.”.

According to Air France-KLM, its proposal “includes a strategic plan covering all areas of business, including passenger transport, cargo, loyalty and maintenance, repair and revision programs (MRO)”.

He also pointed out that Delta Air Lines, which is a joint venture partner of the Group, “supports and is aligned with this proposal”.

The government will begin final negotiations with the two candidates who have delivered binding offers for the purchase of 44.9% from TAP, Air France-KLM and Lufthansa, according to President Leitão Amaro, announced today.

Minister Leitão Amaro said that offers, being different, have a “very close overall assessment”, which justifies “the negotiation effort” with both competitors, with the aim of obtaining “improved proposals” so that the government can choose “one competitor for the very final negotiation”.

On 1 September, Parpublica submitted for analysis by the government the report on the two binding offers for the privatisation of TAP, the process of which provides for the sale of up to 49.9% of TAP's capital, of which 5% are reserved for employees, and the unsubscribed portion may be acquired by the selected investor under a preferential right.

Leitão Amaro clarified that the proposals are “overall so close that the best for national interest is to have an additional, final phase of negotiation with both” candidates.

This final negotiation period with the two competitors will be “a few weeks”.

On the results presented by TAP in the first half, with a loss of EUR 99.2 million, justified by the price of fuels, the Minister of the Presidency chose to highlight “the historically high sales, the highest memory” recorded by the carrier in the same period.

“ The evaluations of course always take into account this type of circumstantial factors and structural trajectories, namely sales and business expansion,” he added.

Leitão Amaro admitted that the price offered by TAP “is of course an important criterion, but it is not the only one”, since the privatisation specifications determine an overall assessment of the offers, in terms of routes and the industrial project, among others.