Portugal picks Lufthansa over Air France-KLM for TAP stake

Lufthansa has secured a minority stake in TAP Air Portugal following a competitive bidding process, according to the Portuguese government. The Council of Ministers formally approved this selection on October 14th, marking a significant shift in the airline’s ownership structure. Lufthansa's proposal was deemed ‘financially stronger’ compared to that submitted by Air France-KLM. The total investment for the 5% employee share is valued at €1.2 billion. This strategic move aims to bolster TAP Air Portugal’s financial stability and operational capabilities within the European aviation market.