European Airlines Join Forces to Pursue Portuguese Carrier

Lufthansa Group and International Airlines Group (IAG) have entered the fray to purchase a minority stake in TAP Air Portugal. The privatization process aims to sell 49.9% of the airline, with the goal of recovering €3.2 billion in state aid provided during the COVID-19 crisis. TAP Air Portugal employs over 400 skilled workers in Portugal and currently offers more than 280 weekly flights to and from the country. The process is expected to be concluded by early 2026. This development was first reported by AeroTime.