Lufthansa Wins 44.9 Percent of TAP for €1.201 Billion as Portugal Completes First Privatisation Stage
LISBON — The Portuguese government announced after a cabinet meeting on October 14 that Germany's Lufthansa Group will acquire 44.9 percent of national flag carrier TAP Air Portugal for €1.201 billion, completing the first stage of TAP's privatisation, according to European news reporting carried by Macao media. The acquisition remains subject to regulatory approval.
Prime Minister Luís Montenegro said the government had successfully completed the first stage of the privatisation, in a process that strictly followed competition principles, with rigorous negotiation and full transparency. He said Lufthansa was chosen after bids were assessed because its financial offer was 16 percent higher than its rival's and carried lower uncertainty, valuing TAP at €2.552 billion in total. The Portuguese state retains 50.1 percent and employees hold 5 percent, while Lufthansa will be responsible for executive management and operations.
The plan includes €500 million for a new pilot training school at Tancos and an innovation centre in Aveiro, among other investments, with about 3,000 related jobs expected and some 5,500 direct and indirect jobs in total. TAP's fleet is planned to grow to 117 aircraft by 2035 and 130 after 2035, with up to eight Airbus A350-900s delivered from 2030. Portugal's finance minister previously said the privatisation is expected to take 18 to 24 months, completing in 2028, and requires European Commission approval. Both Lufthansa and TAP are Star Alliance members, and TAP will remain in the alliance.
(Sources: European news reports, Macao on Journey, Portuguese government announcements)
Source: GSM · USA (original Chinese edition)
Photo: Rehman Abubakr／CC BY-SA 4.0（Wikimedia Commons）
