Portugal selects Lufthansa to acquire up to 44.9% stake in TAP

According to informed sources, Portugal has selected Germany's Lufthansa Group to acquire up to 44.9% of TAP (Transportes Aéreos Portugueses), introducing a partner to the state-owned airline to ensure its long-term survival. Sources stated that the Portuguese government made this decision during a cabinet meeting on Wednesday. Previously, both Lufthansa and Air France-KLM Group had submitted improved bids to compete for TAP's shares. In addition, 5% of TAP's shares are reserved for company employees. Lufthansa previously stated that TAP aligns with its multi-airline, multi-hub operating model and will strengthen the group's market position on routes between Europe and Brazil, Latin America, and Africa. The German airline has also committed to maintaining Lisbon's status as an aviation hub.