"There's still discussion in Portugal how that privatisation will take place and it's not supposed to be 100 percent privatisation," Spohr told journalists at the annual meeting of the International Air Transport Association in Istanbul.
At least three major global carriers, Lufthansa, Air France-KLM (AIRF.PA) and British Airways-owner IAG (ICAG.L), have shown an interest.
Lufthansa said last month that it was taking a 41% stake in Italian carrier ITA Airways in the latest major consolidation in the aviation sector in Europe.
"Boeing are saying it's delivery in late 24 or early 25 - which means it's early '25," Spohr said.
Reporting by Joanna Plucinska and Tim Hepher; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons:
Carsten Spohr, Joao Nuno Mendes, it's, Spohr, IAG, Joanna Plucinska, Tim Hepher, Susan Fenton
Organizations:
TAP, International Air Transport Association, Lufthansa, Air France, KLM, British Airways, ITA Airways, Boeing, Thomson
Locations:
ISTANBUL, Portugal, Istanbul, Europe