TAP Air Portugal is exploring the possibility of partial privatization, with the Portuguese government inviting Air France-KLM and Lufthansa to submit improved offers to acquire a 44.9% stake in the national airline. The government intends to keep majority control, retaining 5% of the capital for employees. The decision is still under consideration, and Paloma Utrera, TAP's France-Spain director, emphasized that it is ultimately a government decision, not one made by the company itself. TAP is seeking an industrial partner that can bring benefits such as improved efficiency and expanded routes while maintaining its role in connecting Portugal to the rest of the world. The airline operates a dense network between Europe and the Lusophone world, which includes Brazil and Africa, as well as services to North America, the Azores, and Madeira. This extensive transatlantic and African presence has drawn the interest of the two European airline groups. TAP reported a net loss of 99.2 million euros in the first half of 2026, compared to a loss of 70.7 million euros in the same period a year earlier. Rising fuel costs, which increased by 18.7% over the period and more than 50% in the second quarter, have been a major contributor to this financial strain. However, Utrera noted that the results should be viewed in an annual context, as some quarters last year were also loss-making while others were profitable. Despite these financial challenges, TAP continues to expand its transatlantic operations. The airline recently launched services to Curitiba in Brazil and plans to introduce flights to São Luís do Maranhão in October. It also aims to strengthen its presence from Porto, in addition to its main hub in Lisbon, to support long-haul flights from northern Portugal. The French market remains important for TAP, with the airline connecting Paris-Orly to Lisbon and Porto, as well as operating flights from Lyon, Marseille, Nice, and Toulouse. Approximately 60% of French travelers using TAP are point-to-point passengers, while 35% to 40% continue their journeys through TAP's network. TAP offers a product called Ponte Aérea on the Paris-Orly–Lisbonne axis, aimed at business travelers, with high frequency and Fast Track services on most fares. TAP is also trying to defend its position against low-cost carriers by offering Business class on short-haul flights and Economy Prime on some long-haul flights. The Economy Prime service includes features inspired by Business class, such as enhanced comfort and amenities, but does not have dedicated seating.