Lufthansa: submits bid for a minority stake in TAP Air Portugal

(Il Sole 24 Ore Radiocor) - The Lufthansa Group has submitted an offer to Parpública, the Portuguese state-controlled investment company, to acquire an initial minority stake in TAP Air Portugal. The German group made the announcement, stating that the deal aims to establish a long-term partnership and ensure a sustainable future for the Portuguese national airline. “The Lufthansa Group represents a long-standing, reliable and strategic partnership with Portugal. We have been investing in Portugal for decades, creating and safeguarding skilled jobs and connecting the country to Europe,” said Chief Executive Carsten Spohr. “Our interest in acquiring a stake in our Star Alliance partner, TAP Air Portugal, is the next logical step. We want to strengthen the Portuguese flag carrier as part of the Lufthansa Group and as a leading airline for the South Atlantic, with Lisbon as a strategic hub. “With Swiss, Austrian Airlines, Brussels Airlines and ITA Airways, we have demonstrated how European integration within our Lufthansa Group ensures prospects and growth for our national markets and our hubs.” Lufthansa has been operating in Portugal for over 70 years. The group’s airlines currently operate 353 weekly flights to and from the country and employ more than 500 staff.

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