Lisbon, Jan. 20, 2026 (Lusa) - Parliament approved on Tuesday the hearing of organisations representing TAP workers and various entities involved in the sale of the airline, in a debate marked by disagreements over access to confidential documentation.
The Infrastructure, Mobility and Housing Committee unanimously approved the PCP's requests to hear representative structures of TAP workers, as well as Chega's request to hear the company's Chair of the Board of Directors, Carlos Oliveira, the Chairman of Parpública, Joaquim Cadete, the President of the National Civil Aviation Authority (ANAC), Ana Vieira da Mata, and the president of the Portuguese Tourism Confederation, Francisco Calheiros.
Chega's request for Parpública's report on the TAP sale process, delivered to the government in December and used as the basis for pre-qualifying Air France-KLM, IAG and Lufthansa, was also discussed.
This request will now be forwarded to the government, as it was not put to a vote but did spark a debate marked by differences of opinion over the confidentiality of the documents.
PSD MPs argued that parliament should not allow requests for documents that could undermine the company's value, stressing the need to safeguard the confidentiality of the sale process.
Opposition MPs argued that there are mechanisms for conditional access to documentation, noting that parliamentary scrutiny cannot be undermined in a process involving public funds.
The committee also set Friday, 23 January, as the deadline for parties to submit proposals to amend the decree-law regulating the partial reprivatisation of TAP.
The government plans to sell up to 44.9% of the airline's capital, reserving 5% for employees, as stipulated by the Privatisation Law. The future buyer will have the right of first refusal on any unsubscribed shares.
Air France-KLM, IAG and Lufthansa are the three interested parties in the race for TAP and must submit non-binding proposals by 2 April, a step that will follow a period of providing detailed information about the company and signing confidentiality agreements.
The non-binding proposals will have a financial component, including the price offered for the shares, as well as additional valuation mechanisms, such as earn-outs, which provide for future payments depending on the company's performance.
Interested parties must also indicate the future valuation prospects of the remaining stake and any alternative forms of payment, such as share exchanges.
In addition, they must submit non-binding technical proposals, including an industrial and strategic plan for TAP, a preliminary vision of synergies and benefits for the company, and guarantees of the preservation of its status as a European Union air operator.
The evaluation criteria include financial valuation, technical experience, financial sustainability, the development of strategic areas while maintaining the brand and headquarters, safeguarding air links, assuming regulatory risks, the rights and valuation of employees, and the vision for the second phase of privatisation.
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