TAP Portugal (Lisbon) will not be privatized this year after all as the Portuguese government has decided that it will not accept an offer made by Synergy Aerospace for the carrier. Synergy had emerged as the only bidder submitting a formal offer and had hoped to be able to use Lisbon as a hub for its flights to Europe offered by Avianca (Bogotá) in whose holding company AviancaTaca Synergy owns a majority stake. The final offer from Synergy has reportedly not met the financial expectations of the government with just 35 million EUR being offered leading to its preference to not yet sell TAP at this point in time.