started · updated
Lufthansa selected to acquire up to 49.9% stake in TAP
The Portuguese government has officially selected the German aviation group Lufthansa to acquire a stake of up to 49.9% in the state-owned airline TAP. The total transaction is valued at approximately 1.2 billion euros, which includes 1.025 billion euros for a 44.9% share, 118 million euros for a 5% portion reserved for employees, and 58 million euros in financial adjustments.
Lufthansa expects to realize annual synergies of up to 450 million euros, particularly through strengthened connections to Latin America. The deal includes a 1.5% annual ticking fee paid by Lufthansa until the transaction closes, which is projected for the first half of 2028. The agreement also outlines significant investments, including fleet expansion to 130 aircraft by 2035 and developments in aeronautical maintenance and training in Portugal.
A second phase of privatization is envisioned, which could allow Lufthansa to acquire a majority stake. In such a scenario, the Portuguese state could receive a 5% equity swap in Lufthansa, potentially generating approximately 20 million euros in annual dividends and making the state a significant shareholder in the global aviation group.
Entities
Air France-KLM · Carsten Spohr · European Commission · Lufthansa · Miguel Pinto Luz · Portugal · Portuguese Government · TAP Air Portugal · Till Streichert
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Lufthansa will pay a 1.5% annual ticking fee until the deal closes. eco.sapo.pt · sapo.pt
- [○ 1 SOURCE] The Portuguese state could receive a 5% stake in Lufthansa through an equity swap in a second phase. jornaleconomico.sapo.pt
- [● 2 SOURCES] The transaction is expected to close by the first half of 2028. eco.sapo.pt · sapo.pt
- [● 2 SOURCES] The total value of the transaction is approximately 1.2 billion euros. opcaoturismo.pt · www.expansion.com
- [● 2 SOURCES] Lufthansa was selected to acquire up to 49.9% of TAP. www.expansion.com · dinheirovivo.dn.pt
- [● 2 SOURCES] The fleet is planned to expand to 130 aircraft after 2035. observador.pt · www.expansion.com
- [● 2 SOURCES] The deal includes a 5% stake reserved for TAP workers. opcaoturismo.pt · www.expansion.com
- [○ 1 SOURCE] Lufthansa expects annual synergies of up to 450 million euros. www.finanzen100.de