Lufthansa Group submitted a non-binding offer to Portugal’s state holding company Parpublica for a minority stake in TAP Air Portugal, meeting the April 2, 2026 deadline in the carrier’s privatization process.
The bid follows Air France-KLM’s submission hours earlier, while International Airlines Group (IAG) appears set to withdraw, citing incompatibility with its strategy that favors majority control. Portugal plans to sell 44.9% of TAP, with 5% reserved for employees; the government announced the process in September 2025, with formal interest from all three groups in November.
Lufthansa Head of Strategy Tamur Goudarzi Pour confirmed the group’s commitment, stating it would hold its price firm despite energy challenges and sees value in a minority position for integration gains. CEO Carsten Spohr called TAP a perfect match, emphasizing Brazil and Latin America routes. The group proposes Starlink connectivity fleetwide, a Lufthansa Technik maintenance facility near Porto, and potential pilot training with the Portuguese Air Force.
Proposals required financial terms, strategic plans, synergies, and EU operator guarantees. Infrastructure Minister Miguel Pinto Luz expects a winner by summer. As Star Alliance members, Lufthansa and TAP align better than SkyTeam’s Air France-KLM, which eyes Lisbon as its Southern European hub.
TAP, renationalized in 2020 amid Covid losses, represents another consolidation step after Lufthansa’s stakes in ITA Airways and airBaltic.