Lufthansa in talks to acquire remaining 50.1% stake in TAP, says CFO
Portugal's government has selected Lufthansa to buy a stake of up to 49.9% in TAP Air Portugal for US$1.35 billion, beating rival Air France-KLM.
Lufthansa is in discussions to acquire the remaining 50.1% stake in Portugal's flag carrier TAP Air Portugal, according to the company's CFO, Till Streichert. The talks are part of a broader effort in Europe's airline industry to consolidate and streamline operations, with Lufthansa already owning Austrian Airlines, ITA Airways and SWISS.
Streichert hinted that the deal could yield synergies worth €450 million and expect the agreement to be finalized during the first half of 2028. The acquisition comes after the Portuguese government selected Lufthansa over rival Air France-KLM to purchase a stake of up to 49.9% in TAP for €1.2 billion. Lufthansa CEO Carsten Spohr praised the deal as a perfect fit for the group, noting that the transaction would likely face less scrutiny from European Union regulators compared to Italy's ITA Airways due to fewer overlapping services with Lufthansa.
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- Lufthansa in talks to acquire remaining 50.1% stake in TAP, says CFO freemalaysiatoday.com
