The Government has selected the Lufthansa group to acquire up to 49.9% of TAP's share capital, in a deal that will bring in 1.201 billion euros. The Portuguese State will retain a majority stake of 50.1% in the airline.
Luís Montenegro highlighted that Lufthansa's selection was based on a financial proposal 16% higher than that of Air France-KLM and with less uncertainty. The Prime Minister stated this is the "best choice for the company's future" and protects the "national interest", valuing TAP at 2.552 billion euros.
The Government aims to recover the over 3.2 billion euros of public funds invested in TAP, reducing the airline's reliance on taxpayers. A potential second phase of privatization, planned by 2028, could generate additional revenue.
Integration into Lufthansa is expected to enhance TAP's competitiveness, increasing its fleet, destinations, and flight connections. Planned investments include establishing a pilot school in Tancos, an innovation center in Aveiro, and a corporate services center in Santa Maria da Feira, potentially creating 5,500 direct and indirect jobs.
The operation ensures the maintenance of TAP's brand and headquarters in Portugal, the Lisbon hub, and connections to the autonomous regions and Lusophone markets. The reinforcement of Francisco Sá Carneiro Airport in Porto, along with airports in Faro and the autonomous regions, is also part of the strategy.
