Portuguese national airline TAP – Air Portugal has two other potential bidders in its privatisation process, namely Delta Airlines and Virgin Atlantic, according to the online edition of newspaper Expresso this Monday, 27 August.

The newspaper reports that both airlines asked the Portuguese government for the “information memorandum“, which includes various operating data about the company such as its cash position and routes.

The government expects to sell its stake in the airline by the end of 2012, anticipating to generate as much as €1.2bn in revenue from the transaction.