The Smart Marty Sky Dispatch
Portugal signs TAP sale contract with Lufthansa, pledging to keep airline Portuguese
The government and Lufthansa have signed a contract for the sale of TAP to the German group, which says it will remain a "Portuguese airline"; the prime minister pledges to preserve the "TAP brand and identity".
The Portuguese government signed the share sale contract for TAP with Lufthansa, formalising the deal confirmed in October. The ceremony took place at the TAP Campus near Lisbon airport and was attended by Portugal’s prime minister and finance minister, as well as Lufthansa’s chief executive.
Portugal’s prime minister stressed that the agreement aims to preserve TAP’s identity and brand, and to anchor the country’s strategic interests. He highlighted TAP’s uniqueness and social stability within the company as part of the deal’s objectives.
Lufthansa will acquire part of TAP’s capital, with a proposed stake of up to 49.9% and an option for 5% to be allocated to workers. The government will retain 51% of the capital and a majority on the board of directors.
Lufthansa described TAP as a Portuguese airline and indicated plans to develop Lisbon as a Lufthansa hub while also emphasising the importance of other Portuguese regions and communities. The company noted opportunities to expand into markets in Africa and Latin America, including Brazil.
Completion of the sale depends on Brussels’ assessment, with expected European approval anticipated in the first half of 2028. Until then, TAP will operate as an independent entity under oversight from the Lufthansa group.