Portugal picks Lufthansa over Air France‑KLM for TAP stake sale
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The Portuguese government chose Lufthansa Group instead of Air France‑KLM Group to sell a stake in TAP Air Portugal, with Lufthansa offering a basic acquisition price of €10.25 billion, higher than Air France‑KLM's €8.5 billion offer.
Lufthansa's proposal was up to 16% higher and could include an additional €1 billion if TAP meets performance conditions, while Lufthansa also plans to transfer up to eight Airbus A350‑900 aircraft to TAP by 2030; TAP targets a fleet of 117 aircraft by 2035 and 130 thereafter, supported by a €3 billion investment in Santa Maria da Feira.