What Happened
German Carrier Beats Air France-KLM in Bid for Portuguese Airline
Lufthansa Group has successfully acquired a minority stake in TAP Air Portugal, beating rival bidder Air France-KLM. The German carrier will hold a 44.9% stake in the Portuguese airline, with the government remaining the majority shareholder. The deal is valued at €1.201 billion, including a 5% stake reserved for employees. The acquisition is expected to allow TAP to grow globally, strengthening its presence in Latin America and increasing its fleet. The decision was announced by the Portuguese government and Prime Minister Luís Montenegro, and was first reported by AeroTime.