Lufthansa seeks stake in TAP Air Portugal

Lufthansa Group is pursuing a strategic acquisition of TAP Air Portugal, initially targeting a minority stake of up to 49.9% for approximately 1.2 billion euros. Lufthansa CEO Carsten Spohr described the move as a unique opportunity to secure access to 100 modern aircraft, which would elevate the group to the number one position for routes between Europe and Latin America.

Spohr noted that the group received significant support from German Chancellor Friedrich Merz, whose diplomatic outreach to Lisbon was instrumental in navigating competition from French interests. While the current phase focuses on a minority interest, Lufthansa aims for eventual 100% ownership to achieve full operational synergies, a plan reportedly discussed with the Portuguese government.

The acquisition is expected to have significant implications for Portugal's air cargo sector. By integrating TAP into Lufthansa’s extensive global network, the deal could increase flight frequencies, expand destination offerings, and improve transit times. Since approximately 55% of international air cargo is transported in passenger aircraft holds, the increased connectivity could bolster the competitiveness of Portuguese logistics chains.