Transportation
Air France-KLM, Lufthansa Bids for Portugal’s TAP to Advance
TAP passenger aircraft on the tarmac at Humberto Delgado airport in Lisbon.
Photographer: Zed Jameson/BloombergPortugal is likely to advance competing bids from Air France-KLM and Deutsche Lufthansa AG to buy a minority stake in flag carrier TAP SA, according to people familiar with the matter.
State holding company Parpública, which manages ownership of the airline, has recommended that both non-binding offers proceed to the next stage, the people said.