Lufthansa to Buy 44.9% of TAP Air Portugal in €1.2B Deal
The German carrier won on a bid 16% higher than Air France-KLM’s and will become TAP’s strategic partner, officials said.
- On Wednesday, October 14, 2026, Portuguese Prime Minister Luís Montenegro announced the government selected Lufthansa Group to acquire a 44.9% stake in TAP Air Portugal, making the German carrier the strategic partner of Europe's last unaligned flag carrier.
- After assessing final bids submitted on September 30, 2026, the government chose Lufthansa over rival Air France-KLM, citing the German carrier's financial offer was 16% higher than the competing proposal.
- The €1.201 billion transaction leaves Portugal's state with a 50.1% majority holding while Lufthansa assumes executive and operational management of the carrier.
- Lufthansa's proposal includes €500 million for infrastructure initiatives and targets fleet expansion to 117 aircraft by 2035 and 130 after 2035, projecting 5,500 direct and indirect jobs.
- Finance Minister Joaquim Miranda Sarmento stated last week the privatization process should conclude in 2028 "after authorisation from the European Commission's Directorate-General for Competition.
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The German group will have to pay more than EUR 1 billion to acquire just under half of the capital of the Portuguese national company.
Germany’s Lufthansa beats Air France-KLM in $1.3 billion contest for stake in airline linking 14 African destinations to Europe
Germany’s Lufthansa has defeated Air France-KLM in the contest for a substantial minority stake in TAP Air Portugal, positioning it to help shape an airline with important connections between Africa, Europe and the Americas.
Swiss parent company ahead of Air France-KLM in the race for the acquisition of 44.9% of the capital of the Portuguese company. A higher offer of 16% allowed it to winThe German group Lufthansa, already the first European air carrier, won on Wednesday the race for the partial privatisation of the national company TAP Air Portugal in front of the Franco-Dutch Air France-KLM.In order to acquire 44.9% of the capital of TAP, Lufthansa took over with…
Lufthansa Group has been finally selected as the acquirer of a 44.9% stake in TAP Airlines, owned by the Portuguese government. Through this deal worth approximately 1.8 trillion won, Lufthansa has pledged to expand routes connecting Europe, South America, and Africa, as well as invest in local aviation infrastructure. The Portuguese government plans to retain a 50.1% stake and delegate partial management control, while pursuing the recovery of …
Lufthansa wins contest for TAP Air Portugal stake
Lufthansa beat out Air France-KLM with an offer of 1.025 billion euros ($1.14 billion) for a 44.9 percent stake in TAP, Prime Minister Luis Montenegro told journalists after a cabinet meeting. TAP, which was renationalised in 2020 to stem heavy losses from the Covid-19 pandemic lockdowns, is among the few remaining state-owned carriers in Europe. "After studying the proposals, the government has chosen Lufthansa, whose financial offer was 16 per…
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