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Lufthansa Submits Bid for Minority Stake in TAP Air Portugal

April 2, 2026

2 min read

Key Takeaways

Lufthansa submits non-binding offer for minority stake in TAP Air Portugal.
Air France-KLM also submits bid, while IAG considers withdrawal.
Portuguese government selling 44.9% stake in TAP.
Winning bidder to be selected by summer.

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Strategic Implications

Lufthansa's bid may signal a strategic expansion into Latin America, which could strengthen its competitive position against European rivals. The potential acquisition suggests a focus on consolidation and growth, which may indicate a shift in the European airline landscape.

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What Happened

European Airline Consolidation Heats Up With Latest Offer

Lufthansa Group has submitted a non-binding offer for a minority stake in TAP Air Portugal, as part of the airline’s privatization process. The bid was submitted ahead of the April 2, 2026, deadline, with Air France-KLM also submitting an offer. International Airlines Group (IAG) is reportedly considering withdrawing from the process. The Portuguese government is selling a 44.9% stake in TAP, with the winning bidder to be selected by summer. According to AeroTime, Lufthansa’s CEO Carsten Spohr described TAP as a ‘perfect match’ for the group’s expansion strategy.

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