Lufthansa to acquire 44.9% of TAP Air Portugal for €1.2 billion
Written by AI from 3 reports listed below. Not checked by a person before publication. How we use AI
The Portuguese government will keep a 50.1% majority in TAP while Lufthansa secures a 44.9% stake, a deal valued at €1.2 billion. Pilot unions have criticised the purchase, saying it conflicts with Lufthansa’s cost‑saving stance.
Deal structure
Lufthansa’s offer for a 44.9% stake in TAP Air Portugal is valued at €1.2 billion, including a 5% share package for employees. The Portuguese government will retain a 50.1% majority stake after the transaction.
The acquisition raises Lufthansa Group’s overall capacity share in Europe to 9.5%, up from 8.4%, while its share of the group’s capacity falls to 40.6% but remains the largest carrier.
Union criticism
The pilot union Vereinigung Cockpit, represented by vice‑president Oliver Löwe, said Lufthansa is applying different financial criteria in employee negotiations versus acquisitions and demanded an explanation. The union plans to strengthen cooperation with other European pilot unions, including SPAC.
Market impact
After the deal, TAP and ITA Airways each hold 12% of the Lufthansa Group’s capacity. TAP’s share of flights between Europe and Brazil is 24%, contributing to a group share of 36% on that route. TAP currently operates 49% of scheduled flights into Lisbon, projected to rise to 52.5%. No new Lisbon airport is expected before 2034, with licensing applications not anticipated before 2028.
What's still unclear
Sources differ on how much higher Lufthansa’s bid was than the next highest offer, reporting it as 16% higher (airporthaber2.com) and about 21% higher (aerotelegraph.com).
Analysed 3 reports from 3 publishers
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