Lufthansa Group welcomes selection of its offer in TAP Air Portugal privatization process

Lufthansa Group has welcomed the Portuguese government's decision to select its offer in the privatization of TAP Air Portugal, marking a significant step toward a strategic partnership between the two airlines.

Key Details
- Lufthansa Group intends to initially acquire a minority stake in TAP Air Portugal while supporting the airline's growth and preserving its Portuguese identity.
- The company has offered EUR 1.025 billion for a 44.9% stake.
- The value could rise to up to EUR 1.2 billion if Lufthansa acquires a 49.9% stake, reflecting additional employee shares and a ticking fee.
- The transaction remains subject to final agreements and regulatory approvals.

Strategic Importance
- The acquisition would strengthen Lufthansa Group's position in the South Atlantic market, where TAP is a leading carrier.
- TAP's extensive network between Europe, Brazil, and other destinations in North and Latin America is a key attraction.
- Lufthansa views the investment as part of its broader international growth strategy.

CEO Statement
Carsten Spohr, CEO of Lufthansa Group, emphasized that:
- TAP is a strong, profitable airline with a successful business model.
- The two carriers already share a long-standing partnership through the Star Alliance network.
- Lufthansa expects the partnership to help continue TAP's success while enhancing connectivity between Portugal, Europe, and international markets.
- The company looks forward to continuing discussions with the Portuguese government to finalize the deal.

Lufthansa's Presence in Portugal
- Lufthansa Group has operated in Portugal for more than 70 years.
- Its airlines currently offer 353 weekly flights to six Portuguese destinations.
- Capacity has increased by 75% compared with 2019.
- More than 500 employees currently work for Lufthansa Group companies in Portugal.
- The new Lufthansa Technik facility near Porto is expected to increase direct employment to more than 1,000 jobs by 2030.

Business Impact
If completed, the transaction would give Lufthansa Group a strong position in the Portuguese aviation market, expand its reach across South Atlantic routes, support TAP's future growth, and deepen Lufthansa's long-term investment and employment footprint in Portugal.