TAP Air Portugal and the Portuguese government have officially announced the completion of the airline's restructuring plan, fulfilling the final commitments originally agreed upon with the European Commission in 2021. The conclusion of this extensive process follows the successful divestment of TAP’s non-core assets, specifically the sale of its 51% stake in catering provider Cateringpor to Swiss company Gate Gourmet in April 2026, and the sale of its ground handling firm SPdH (Serviços Portugueses de Handling) to the UK's Menzies Aviation in May 2026. By finalizing these transactions, the airline has achieved full compliance with the European Union's competition remedies and operational safeguards established to counter the pandemic-induced aviation crisis.

With the restructuring phase successfully closed, the previous regulatory limits on TAP's fleet growth and acquisitions have been lifted, giving the airline greater predictability and a stronger foundation for future market growth. This milestone clears a major hurdle as the Portuguese state prepares for the airline's upcoming privatization, which involves selling up to a 49.9% stake—with 44.9% targeted for a major private investor like Air France-KLM or the Lufthansa Group, and 5% reserved for company employees. While Portugal must still fulfill a separate requirement to divest its majority stake in regional carrier Azores Airlines by the end of the year, TAP's privatization faces a distinct hurdle from Brazilian carrier Azul Linhas Aéreas Brasileiras, which is legally challenging the sale over a disputed 2016 bond loan totaling approximately EUR 189 million (USD 217 million)