Lufthansa bids up to €1.2 bn for nearly half of TAP amid expansion plans

Lufthansa has offered €1.025 bn for a 44.9% stake in TAP, a figure that could increase to €1.2 bn if it also acquires the 5% employee reserve, while the Portuguese government reported a maximum scenario of €1.201 bn for a 49.9% share.

TAP operates 353 weekly flights to six Portuguese destinations with capacity 75% higher than in 2019, and Lufthansa, which already employs more than 500 people in Portugal, expects to create over 1,000 direct jobs by 2030 through a new Lufthansa Technik plant in Santa Maria da Feira that began construction in June.