SINGAPORE, 16 October 2026: Lufthansa Group welcomes the Portuguese government’s decision to select its offer in the privatisation process for TAP Air Portugal.
Lufthansa will initially acquire a minority stake in the Portuguese national airline while “pursuing a clear strategic agenda: to support TAP Air Portugal’s growth, preserve its national identity and strengthen Portugal’s connectivity, particularly with North and Latin America.”
Deutsche Lufthansa AG Chairman of the Executive Board and CEO Carsten Spohr stated in the group’s press release released Wednesday: “With today’s decision, the Portuguese government has paved the way for TAP Air Portugal to continue this success story together with Lufthansa Group.
“At the same time, this allows us to consistently pursue our internationalisation strategy and sustainably strengthen our position in the South Atlantic market. Lufthansa Group welcomes today’s announcement by the Portuguese government to initiate the process for the full privatisation of TAP Air Portugal”.
Lufthansa Group has offered a purchase price of EUR1.025 billion for the minority stake in TAP Air Portugal. This amount could rise to EUR1.2 billion for a 49.9% stake, due to up to 5% of shares initially offered to employees, as well as a ticking fee.
In the long term, BigGo Finance, an online market intelligence platform, suggests the “structure allows Lufthansa to pursue a majority buyout (potentially raising total investment to around EUR2.55 billion) once regulatory approvals clear and financial integration benchmarks are met.”
The Lufthansa Group’s airlines currently offer 353 weekly flights to six destinations in Portugal, representing a 75% increase in capacity compared with 2019. More than 500 skilled professionals currently work for Lufthansa Group companies in Portugal. With the construction of the new Lufthansa Technik site in Santa Maria da Feira near Porto, where ground was broken in June, this number is expected to increase to more than 1,000 direct jobs by 2030.
Lufthansa Group is working with the Portuguese government and Parpública to finalise the transaction documents and expects to sign the acquisition agreements shortly. The acquisition remains subject to approval by the relevant authorities.
(Source: Lufthansa)
