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Lufthansa set to win bidding for stake in Portugal's TAP, SIC reports - Finance news and analysis from Global Banking & Finance Review
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Lufthansa set to win bidding for stake in Portugal's TAP, SIC reports

Published by Global Banking & Finance Review

Posted on October 13, 2026

1 min read

· Last updated: October 13, 2026

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Lufthansa Set to Secure 44.9% TAP Stake, Outbidding Air France-KLM

Lufthansa's Bid for TAP: Details and Competitive Landscape

Overview of the Bidding Process

LISBON, Oct 13 (Reuters) - Germany's Lufthansa is set to win the bidding for the purchase of a 44.9% stake in Portugal's flag carrier TAP over rival Air France-KLM, broadcaster SIC said on Tuesday, citing sources familiar with the matter.

Bid Structure and Financial Details

• The German group is offering an all-cash deal for its stake in TAP, unlike Air France-KLM, whose proposal combines cash and shares in the Franco-Dutch airline, SIC reported.

Factors Influencing the Decision

• Lufthansa's stronger financial position was also a key factor, it added.

• Portugal's Infrastructure Ministry declined to comment.

Timeline and Next Steps

• Air France-KLM and Lufthansa submitted final bids for the stake in September after Portugal's government requested both bidders improve their offers.

• The government is due to choose the winner at an extraordinary cabinet meeting on Wednesday.

(Reporting by Sergio Goncalves; Editing by Victoria Waldersee and Edmund Klamann)

Key Takeaways

  • Lufthansa’s all‑cash offer and robust financial standing are seen as decisive advantages over Air France‑KLM’s mixed cash‑and‑shares proposal. (portugal.gov.pt)
  • Both airlines submitted binding bids—including strategic plans and investment commitments—in late July, with the Portuguese government receiving Parpública’s assessment and preparing to decide, possibly in a cabinet meeting this Wednesday. (euronews.com)
  • TAP’s strategic value stems from its prime Atlantic routes—especially to Brazil and Portuguese‑speaking Africa—and its Lisbon hub, making the privatization a high‑stakes contest for European aviation groups. (live.euronext.com)

References

Frequently Asked Questions

What is Lufthansa bidding for in Portugal?
Lufthansa is bidding for a 44.9% stake in Portugal's flag carrier airline, TAP.
How does Lufthansa's offer differ from Air France-KLM's?
Lufthansa's offer is an all-cash deal, while Air France-KLM's proposal includes cash and shares.
Why is Lufthansa favored to win the TAP stake?
Lufthansa's stronger financial position and all-cash offer reportedly make it the preferred bidder.
When will the winner of the TAP stake be announced?
The winner is expected to be chosen during an extraordinary cabinet meeting on Wednesday.
Did the Portuguese government comment on the bidding process?
The Infrastructure Ministry declined to comment on the ongoing bidding process.

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