5-Sep-2011 11:26 AM

Portugal wants Lufthansa investment in TAP

Portugal's Prime Minister Pedro Passos Coelho urged Lufthansa to consider investing in national carrier and Star Alliance member TAP Portugal (Associated Press/Euronews, 02-Sep-2011). Mr Coelho said Lufthansa could benefit through TAP’s South American and African networks. TAP is expected to be privatised as part of the country’s economic recovery plan. Lufthansa has not commented. IAG, the parent of British Airways and Iberia, has previously expressed its interest in TAP to gain access to its extensive Brazilian connections. Lufthansa generates 2% of its passenger revenue from Latin America. Lufthansa CEO Christoph Franz recently said the airline group would focus on organic growth in the short-term.

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