Why Portugal chose the Lufthansa Group

Portugal announced the sale of 44.9% of TAP Air Portugal to the Lufthansa Group after a special cabinet meeting in Lisbon, with Prime Minister Luís Montenegro confirming the decision on 14 October 2024.

The transaction values the stake at €1.201 billion, 16 % higher than Air France‑KLM’s competing offer, and gives Lufthansa immediate management and operational control while Portugal retains a 50.1 % majority share; the deal includes an option for Lufthansa to acquire an additional 5 % if employee rights of first refusal are not exercised, preserves TAP’s brand, headquarters and Lisbon hub, adds eight aircraft to Porto, and outlines a fleet growth to 117 aircraft by 2035 and 130 thereafter, with up to eight Airbus A350‑900 potentially transferred after 2030.