Follow-up: Lufthansa and Portugal Sign Agreement: €1.025 Billion for an Initial 44.9% Stake in TAP Air Portugal
The Lufthansa Group and the Portuguese government on November 3 signed the agreement for Lufthansa's acquisition of an initial minority stake of 44.9 percent in TAP Air Portugal, at Humberto Delgado Airport in Lisbon. The signing marks a decisive milestone in TAP's privatization process. Completion of the acquisition remains subject to approval by the relevant authorities, in particular the European Commission.
Lufthansa Group said the agreed purchase price for the initial 44.9 percent stake is 1.025 billion euros, financed entirely from available liquidity. Through the possible acquisition of shares initially offered to TAP employees, the stake could increase to up to 49.9 percent; taking into account a so-called ticking fee, the total purchase price could rise to up to 1.2 billion euros. The group said a minority stake already enables the realization of the majority of synergies, estimated at up to 450 million euros, and expressly welcomed the prospect of a full privatization of TAP.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, said after the signing that the two networks complement each other ideally and open up new growth opportunities in Portugal and in particular in South America and Brazil. Together with TAP's employees, the group wants to continue the airline's success story, preserve its Portuguese identity and develop Lisbon into a Lufthansa Group hub, he said.
Under the group's plans, Lisbon is set to become the seventh hub of the Lufthansa Group, with Porto, the Azores, Madeira and the Algarve also integral parts of the growth strategy. The combined calculated market share of Lufthansa and TAP in traffic between Europe and Latin America would be approximately 20 percent, compared with Lufthansa's current share of approximately nine percent. Lufthansa Group airlines currently offer 353 weekly flights to six destinations in Portugal, an increase of 75 percent compared with 2019.
Background: in mid-October the Portuguese government selected Lufthansa over Air France-KLM as the buyer of the 44.9 percent stake in TAP. The signing moves the acquisition from buyer selection to a formal agreement; what happens next depends on regulatory approvals.
(Source: Lufthansa Group)
Source: Lufthansa Group
Published by GSM · USA (original Chinese edition)
Photo: TAP 葡萄牙航空空客 A330-900neo 客机（注册号 CS-TUM），Anna Zvereva 摄，CC BY-SA 2.0，经 Wikimedia Commons
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- 2026-11-03Follow-up: Lufthansa and Portugal Sign Agreement: €1.025 Billion for an Initial 44.9% Stake in TAP Air PortugalThis story
