Lufthansa Group Selected to Acquire Up to 49.9% of TAP Air Portugal for €1.2 Billion

Lufthansa Group has been selected by the Portuguese government as the preferred bidder in the privatization of TAP Air Portugal, offering €1.025 billion for an initial 44.9% stake in the national carrier.

The transaction value could increase to approximately €1.2 billion if Lufthansa acquires up to 49.9% of TAP, incorporating shares initially reserved for employees and an additional payment adjustment.

The selection positions Lufthansa to become a major shareholder in TAP, expanding its presence in the South Atlantic market and strengthening connections between Europe, Brazil and other destinations in Latin America.

Lufthansa intends to preserve TAP’s national identity while supporting its network development and integration into the group’s broader airline operations. TAP is already a member of Star Alliance alongside Lufthansa Group carriers.

The German airline group also welcomed Portugal’s decision to initiate a process for the full privatization of TAP, indicating its interest in potentially increasing its ownership beyond the initial minority investment.

Lufthansa currently operates 353 weekly flights to six Portuguese destinations and employs more than 500 people in the country. Its new Lufthansa Technik facility near Porto is expected to increase its Portuguese workforce to more than 1,000 by 2030.

Lufthansa will now work with the Portuguese government and state holding company Parpública to finalize the transaction documents. Signing is expected shortly, while completion remains subject to regulatory approvals.