The Lufthansa Group is looking to take a minority stake in TAP Air Portugal, submitting a bid to Parpública — the Portuguese state-owned investment company.
The acquisition of an initial minority stake is intended to establish a long-term partnership between the Lufthansa Group and TAP Air Portugal in order to secure TAP’s successful future as Portugal’s national airline on a sustainable basis.
Commenting on the move, Carsten Spohr, CEO of the Lufthansa Group, said: “The Lufthansa Group stands for a long-standing, trusted, and strategic partnership with Portugal. For decades, we have been investing in Portugal, creating and securing skilled jobs, and connecting the country with Europe. Our interest in taking a stake in our Star Alliance partner TAP Air Portugal is the next logical step.”
Spohr continued: “We want to strengthen Portugal’s national airline as part of the Lufthansa Group and as the leading airline for the South Atlantic, with Lisbon as a strategic hub. With SWISS, Austrian Airlines, Brussels Airlines, and ITA Airways, we have demonstrated how the European integration of our Lufthansa Group secures prospects and growth for our home markets and hubs.”
For over 70 years, the Lufthansa Group has been active in Portugal and currently its carriers operate 353 weekly flights to and from Portugal; and the company employs over 500 skilled professionals in the country.
With the construction of a new Lufthansa Technik facility for the repair of engine parts and aircraft components in Santa Maria da Feira near Porto, this number is expected to rise to over 1,000 by 2030.
The Lufthansa Group’s offer to Portugal therefore goes beyond a financial investment. It combines seven decades of industrial presence with rising employment figures and growing investments, complemented by social engagement.
Not least, the recent establishment of help alliance Portugal, the aid organization’s first European location outside Germany, demonstrates Portugal’s great importance to the Lufthansa Group. In this way, the Lufthansa Group is presenting an offer that combines strategic, industrial, social, and financial aspects.
Already, the Lufthansa Group has already successfully developed national airlines such as SWISS, Austrian Airlines, Brussels Airlines, and most recently ITA Airways, while preserving their national identities.
As the largest airline group outside the U.S., the Group offers the necessary scale, experience, and financial stability to create sustainable value and strengthen TAP Air Portugal’s role as the country’s ambassador around the world.
The partnership would strengthen Lisbon’s position as a strategically important Atlantic hub within the Lufthansa Group’s network. Connectivity between Europe and other regions, such as Latin America, Africa, and North America, could be expanded.
