The Portuguese government has indicated that it will approve the privatisation of TAP Air Portugal this month, approving the legal framework to enable the sale. The government is expected to keep a strategic stake in the airline.
"I can confirm that next week the cabinet will approve the document that will establish the (legal) framework for the privatisation of TAP, defending the company, and the interests of Portugal and the Portuguese," Prime Minister Antonio Costa confirmed.
European airlines have already expressed interest in TAP including IAG, which owns Iberian and British Airways, Lufthansa and Air France-KLM.
The privatisation process is expected to be completed next year.