Lufthansa to Buy 44.9% of TAP Air Portugal in €1.2B Deal
- 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.
106 Articles
106 Articles
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…
The German giant, which will rise to 90% of Ita Airways at the beginning of 2027, wants to extend its influence on the Mediterranean and South America.
AUA mother stands out Air France-KLM with a better offer. Lisbon airport is to be strengthened as a hub.
Lisbon, Oct 14 (EFE).- The Portuguese airline TAP this Wednesday welcomed the German group Lufthansa as a future private shareholder and strategic partner and considered that its election by the Portuguese government opens new prospects for growth and competitiveness in the international market. In a statement, the company called the decision a milestone [...] The entry Lufthansa wins the partial privatization of TAP with a global offer of 1,201…
The German group will pay 1.2 billion euros to take position in the Portuguese airline, whose privatization interested, in the first phase, IAG.
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