Lufthansa wins TAP Air Portugal bid in €1.2b deal: What UAE travellers need to know
Dubai: Portugal’s government has chosen Lufthansa as the successful bidder for flag carrier TAP Air Portugal, selecting the German airline over Air France-KLM in a long-delayed privatisation that could reshape one of Europe’s last major unaligned national carriers. 025 billion (about Dh4.22 billion) for an…
Portugal’s government has selected Lufthansa as the successful bidder for the national carrier TAP Air Portugal in a €1.2 billion deal. The German airline surpassed competitor Air France-KLM in the bid process. Lufthansa's initial offer was €1.025 billion, with the potential to rise to €1.2 billion if it acquires an additional 5% of shares.
The transaction awaits final approval. Lufthansa aims to bolster TAP's growth while maintaining Portugal's connections in South America, the United States, and Africa. The acquisition would bolster Lufthansa's South Atlantic network, providing an important European hub. Lufthansa already operates several airlines in Europe and has a long-standing partnership with TAP.
The deal follows a broader industry trend of consolidation as national carriers seek larger groups for resources, network reach, and resilience.
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