LISBON, July 29 (Xinhua) -- Portuguese state holding company Parpublica confirmed on Wednesday it has received binding proposals from Air France-KLM and Deutsche Lufthansa for the acquisition of a 44.9 percent stake in national carrier TAP Air Portugal, advancing the airline's privatization process into its decisive phase.
Air France-KLM framed its bid as a comprehensive strategic plan covering all of TAP's business areas, including passenger transport, cargo, the loyalty program and aeronautical maintenance, repair and overhaul operations.
Meanwhile, Lufthansa described its bid as aimed at establishing a long-term partnership that will secure the sustainable future of TAP as Portugal's national airline, positioning Lisbon as a strategic hub for South Atlantic operations.
Parpublica now has 30 days to assess the documentation and deliver a report to the government, which may also invite one or both bidders to submit an improved final offer.
Infrastructure minister Miguel Pinto Luz has said he intends to conclude the selection of TAP's future partner in September. ■