The Portuguese Finance Minister describes TAP as a "very well performing consolidated company," likely "the last" midsized European airline available for acquisition by large aviation groups, with strong networks in South America, Canada, and Africa. He believes the short-term crisis (high fuel prices) will not strongly impact the "medium and long-term perspective" of interested buyers focused on growth and the company's fundamentals. Non-binding bids are due imminently (April 2). The company is positioned as a unique consolidation target with attractive assets, making it a key situation to monitor for potential M&A activity. The war causing a deep, prolonged recession that scuttles airline consolidation plans or severely damages TAP's fundamentals.