Lufthansa Group has declined to comment on reports that it is seeking to acquire a 19.9% stake valued between EUR180 million and EUR200 million euros (USD199-221 million) in TAP Air Portugal (TP, Lisbon) as part of the Portuguese flag carrier's privatisation process.
"We do not comment on these media reports," a Lufthansa Group spokesman informed ch-aviation.
A report in Italy's Corriere della Sera newspaper claimed that the alleged offer is expected to conclude "no earlier than the first quarter of 2025". It said that the Lufthansa parent plans to avoid purchasing a controlling stake to bypass the need for approval from the European Commission, the European Union's antitrust authority.
Bloomberg reported that Lufthansa Group CEO Carsten Spohr would meet with Portuguese government officials, including finance minister Joaquim Miranda Sarmento and infrastructure and housing minister Miguel Pinto Luz, in Lisbon on September 2 to discuss the potential investment.
In July, the Portuguese government reaffirmed its plans to privatise TAP, adding that the terms of the sale were still to be defined. The privatisation process was slated to start this month and was expected to involve less than 50% of the airline's capital.
Air France-KLM and IAG International Airlines Group, the parent company of British Airways and Iberia, are reportedly also keen on investing in the Portuguese state carrier but have declined to comment to date.
Through TAP's network, the proposed investment would expand Lufthansa's foothold in Europe and internationally and increase its presence in key regions, including South America and Africa. The Lisbon-based airline’s biggest attraction reportedly lies in its links to Brazil.
