The Portuguese government has selected Lufthansa Group as the preferred bidder to acquire a minority stake in TAP Air Portugal, offering €1.025 billion for an initial 44.9% shareholding in the national carrier. The transaction value could rise to approximately €1.2 billion if Lufthansa increases its stake to 49.9%.
The proposed acquisition would strengthen Lufthansa Group’s presence in the South Atlantic market and expand connectivity between Europe, Brazil and other destinations across Latin America. The investment would also bring TAP closer to Lufthansa’s broader airline network, with both carriers already members of Star Alliance.
Lufthansa has said it intends to preserve TAP’s Portuguese identity while supporting the airline’s network development and integration with the group’s wider operations. The German airline group has also welcomed Portugal’s decision to initiate a process for the full privatization of TAP, signalling potential interest in increasing its ownership in the future.
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Lufthansa Group currently operates 353 weekly flights to six destinations in Portugal and employs more than 500 people in the country. Its investment in a new Lufthansa Technik facility near Porto is expected to expand its Portuguese workforce to more than 1,000 employees by 2030, further strengthening its technical services footprint in the country.
The next stage involves Lufthansa Group working with the Portuguese government and state holding company Parpública to finalize the transaction documents. Signing is expected shortly, with completion subject to the necessary regulatory approvals.
If completed, the transaction would mark a significant step in Lufthansa Group’s expansion strategy, strengthening its access to key transatlantic markets while supporting TAP’s future development within a larger European airline network.
