German and Portuguese foreign ministers call Lufthansa's TAP entry a geostrategic move

Germany’s foreign minister Johann Wadephul and Portugal’s foreign minister Paulo Rangel said Lufthansa’s acquisition of a stake in TAP is a geostrategic directional decision that will strengthen Europe as an economic location and generate many contacts, collaborations and new jobs.

Lufthansa pledged up to €450 million in annual synergies from the deal and its chief executive Carsten Spohr said the partnership will give the combined carriers about a 20 percent market share on routes between Europe and Latin America.