TBM Staff - Mumbai The Lufthansa Group is reportedly considering acquiring a stake in TAP Air Portugal, following its successful bid for Italy’s ITA Airways.
The German airline company is currently in discussions to acquire a 19.9% stake in TAP Air Portugal, engaging with the Portuguese government as Lufthansa CEO Carsten Spohr prepares for talks in Portugal, according to reports from the Italian newspaper Corriere Della Sera.
The proposed deal would involve Lufthansa taking a non-controlling stake in TAP Air Portugal to circumvent potential European Union scrutiny over the acquisition, sources suggest. Despite not being a controlling stake, this move would further expand Lufthansa’s influence in the European aviation market.
If negotiations between Portugal and Lufthansa progress positively, a formal offer is expected to be made in the first quarter of 2025. The potential deal could be valued between €180 million and €200 million, based on TAP Air Portugal’s estimated market value.
TAP Air Portugal, the national carrier of Portugal, has fluctuated between private and public ownership over the years. Most recently, it was renationalised in February 2016 after the Portuguese government repurchased a 50% stake from Atlantic Gateway.
