Lufthansa Group and Portuguese Government sign contract for 44.9% TAP Air Portugal stake
Lufthansa Group and Portugal's Government signed (03-Nov-2026) the contract for Lufthansa to acquire an initial 44.9% minority stake in TAP Air Portugal for EUR1.025 billion. The stake could expand up to 49.9% via employee share acquisitions, potentially raising the total purchase price to EUR1.2 billion. Lufthansa CEO Carsten Spohr stated: "Our networks complement each other perfectly and, in addition to Portugal, open up new growth prospects for us, particularly in South America and Brazil". He added: "Together with TAP's employees, we want to continue the airline's success story, preserve its Portuguese identity, and develop Lisbon into the Lufthansa Group's hub". [more - original PR - German]
Background ✨
Lufthansa Group CFO Till Streichert said it expected up to EUR450 million of synergies in the first year after investing, with regulatory approvals anticipated in 18 to 24 months.1 TAP Air Portugal CEO Luís Rodrigues said the European Commission review was likely to be “very complex” and assessed route by route.2 Lufthansa Group CCO Dieter Vranckx said TAP could be integrated within 18 months post-closing, aided by its existing Star Alliance membership.3