Portugal selects Lufthansa for €1.2 bn purchase of 44.9% stake in TAP
Portugal announced that Lufthansa will buy a 44.9% share of TAP Air Portugal for roughly €1.2 bn, while the state keeps a 50.1% majority.
Lufthansa secured the right to purchase a sizable stake in TAP, beating a competing offer from Air France‑KLM. Portugal's government said the state will retain majority ownership of the carrier. Up to five percent of the shares may be allocated to employees, with any remaining portion offered to the chosen investor.
The agreement is part of a broader Portuguese aviation plan that includes expanding the fleet to 117 aircraft by 2035, establishing a pilot training school in Tancos and an innovation centre in Aveiro, and investing in several airports. The deal still requires final negotiations and additional approvals.
How this was covered
- Coverage peaked at 6 outlets in a single hour
Why it matters
It may reshape European air routes and create thousands of jobs.
How this story developed
- Oct 13 Lufthansa poised to become TAP's new shareholder ahead of Wednesday announcement
- Oct 14 Portugal announced Lufthansa as the winning bidder for the TAP stake.
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