Lufthansa wins €1.2 billion TAP stake bid, beating Air France-KLM

Lufthansa Group secured a minority stake in TAP Air Portugal following a competitive bidding process. Portugal’s government chose Lufthansa's offer of up to €1.2 billion for a 44.9% ownership share. This decision was made on Wednesday and surpasses the competing proposal from Air France-KLM. The deal involves an additional 5% stake acquisition by Lufthansa within the airline. Analysts believe this investment will bolster TAP Air Portugal’s financial stability and operational capabilities, marking a significant shift in the Portuguese aviation landscape.