Lufthansa acquires stake in major EU Airline

The Portuguese government has announced that Lufthansa will become a shareholder in TAP Air Portugal.

Lufthansa and Air France-KLM had submitted final bids for 44.9% of TAP’s share capital, with a further 5% reserved for TAP employees.

The sale requires approval from the European Commission and is expected to be completed in 2028.

Speaking on the morning of the decision, before it was announced, Luís Rodrigues, CEO of TAP Air Portugal, said the process, which took nearly a year and a half, had gone smoothly.  

Under TAP’s 10-year plan, long-haul flights to South America and North America, along with maintenance, will remain its main markets.

Mr. Rodrigues said the new investor would change how TAP delivers its strategy rather than change what it does, and would bring synergies such as integrating loyalty programmes.  

He also said TAP needs a new airport in Lisbon, as the current airport was designed for 10 million passengers but carried 37 million last year and cannot expand because the city has grown around.