Lufthansa wins bid for 44.9% stake in TAP Air Portugal

German airline Lufthansa has secured a major stake in TAP Air Portugal, beating out competition from Air France-KLM. Prime Minister Luis Montenegro announced the decision at a cabinet meeting. Lufthansa's bid, valued at €1.025 billion, represents a 44.9% stake in the Portuguese airline. The government chose Lufthansa after evaluating the proposals, noting that the financial offer was 16% higher than the competing bid.

Portugal retains a minimum of 50.1% share in the airline, while employees currently own 5%. TAP, which was renationalized in 2020, is among the few remaining state-owned carriers in Europe. The airline employs around 7,700 people and operates a fleet of approximately 100 Airbus planes.