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Lufthansa selected to acquire 44.9% stake in TAP Air Portugal
The Portuguese government has selected the Lufthansa Group to acquire a 44.9% minority stake in TAP Air Portugal. The deal, valued at approximately 1.2 billion euros, was chosen over a competing bid from Air France-KLM, which was reportedly 16% lower. The transaction is expected to be finalized by early 2028, pending approval from European Union competition authorities.
Under the agreement, Lufthansa will provide strategic support to expand TAP's fleet, including the transfer of up to eight A350-900 aircraft from its own fleet to TAP starting in 2030. The partnership aims to strengthen TAP's presence in the transatlantic market, particularly on routes between Europe and Brazil, where the combined group could command a significant market share.
An additional 5% of shares will be reserved for TAP employees, with the option for Lufthansa to acquire them if they are not taken. The Portuguese government intends to pursue the acquisition of the remaining 50.1% stake by 2028 through new legislation. While the deal promises annual net synergies of up to 450 million euros, it has faced criticism from pilot unions regarding the impact on labor conditions and wage negotiations.
Entities
Air France-KLM · Carsten Spohr · Lufthansa · Lufthansa Group · Luís Montenegro · Portugal · Portuguese Government · TAP Air Portugal · Till Streichert
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] A mechanism has been agreed upon to increase dividend distributions to as high as 75%. www.cmjornal.pt · dinheirovivo.dn.pt
- [● 11 SOURCES] Up to 5% of the shares are reserved for TAP employees. haber.aero · www.fehmarn24.de · newmobility.news · time.news · information.tv5monde.com · +5 more
- [● 6 SOURCES] Lufthansa's bid was approximately 16% higher than the competing offer from Air France-KLM. haber.aero · newmobility.news · www.portugal.fr · www.spacemoney.com.br · www.correiodamanhacanada.com · +1 more
- [● 15 SOURCES] The Portuguese government selected Lufthansa to acquire a 44.9% stake in TAP Air Portugal. dailydigest.ie · todologisticanews.com · www.fehmarn24.de · haber.aero · newmobility.news · +8 more
- [● 8 SOURCES] The transaction is expected to be finalized by early 2028, subject to regulatory approval. newmobility.news · time.news · www.correiodamanhacanada.com · dailydigest.ie · information.tv5monde.com · +3 more
- [● 13 SOURCES] The total value of the transaction could reach approximately 1.2 billion euros. haber.aero · newmobility.news · www.portugal.fr · www.spacemoney.com.br · time.news · +7 more
- [● 14 SOURCES] Lufthansa will initially acquire a 44.9% minority stake in TAP. dailydigest.ie · haber.aero · newmobility.news · www.portugal.fr · www.spacemoney.com.br · +7 more
- [● 5 SOURCES] Lufthansa expects annual net synergies of up to 450 million euros from the TAP integration. www.cmjornal.pt · www.fehmarn24.de · dinheirovivo.dn.pt · information.tv5monde.com · www.dk-online.de