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The rival airlines have raised their bids for a major stake in Portugal’s TAP, with a decision expected around mid-October.
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Air France-KLM and Lufthansa have each submitted an improved, final offer for a large stake in TAP, Portugal’s state holdings manager Parpública said in an ANP/Bloomberg report carried by Nieuws.nl. [1]
The airlines are competing for a stake of at least 44.9% in TAP, which was nationalised during the coronavirus crisis. Air France-KLM is bidding for up to 49.9%. Its chief executive, Ben Smith, said he wanted to make Lisbon the group’s southern European hub and argued that the plan would create jobs and value in Portugal. [1]
Lufthansa says its experience building up airlines makes it a good partner for TAP. A decision on the bids is expected around mid-October. [1]
1 listed sources · explore evidence, limitations and provenance.
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