Lisbon, Oct. 24, 2025 (Lusa) — The Lufthansa Group on Friday reiterated its "strong and lasting interest" in acquiring a stake in Portugal's flag carrier, TAP, adding that it is "carefully" analysing the specifications published for the privatisation process.
Asked whether the ruling on reimbursements to cabin crew could lead to a review of the offer price, Lufthansa merely confirmed its interest and said it was evaluating its "potential participation and investment, in full compliance with the sale process and guided by its strategic interest in TAP".
The court ruling, which is now final, confirmed the invalidity of a provision in the former collective labour agreement that discriminated against workers on fixed-term contracts, which could lead to compensation of €200 to €300 million according to the National Union of Civil Aviation Flight Personnel (SNPVAC), well above the provision of 41 million set aside at the beginning of the year by TAP.
"We are currently analysing the process, carefully evaluating the published specifications and examining all the requirements, all within the 60-day deadline" that had been stipulated, added the same source.
In September, Lufthansa had already expressed its interest in the privatisation of TAP to Lusa, highlighting the historic connection through Star Alliance and the investment in the aircraft component and engine repair factory in Santa Maria da Feira, scheduled to start operating at the end of 2027.
"We have consistently expressed our strong and lasting interest in acquiring a stake in the Portuguese flag carrier, TAP Air Portugal. The Lufthansa Group supports the consolidation of European airlines. We therefore warmly welcome the privatisation process launched by the Portuguese Government," the same official source reiterated today.
When asked if they would review their offer after the court ruling on crew reimbursements, Air France-KLM merely reiterated its interest in the TAP privatisation process, while IAG (owner of Iberia and British Airways) declined to comment.
The specifications provide for the sale of up to 44.9% of TAP, with 5% of the capital reserved for employees, in accordance with the Privatisation Law, and the future buyer will have the right of first refusal on the unsubscribed portion.
According to the timetable, candidates must submit their declaration of interest to Parpública, the state holdings manager, by 22 November. The government expects the process to be completed within a year, depending on authorisations from Brussels.
So far, Air France-KLM, IAG and Lufthansa are the airlines that have publicly expressed their interest, but the privatisation process is also open to potential investors outside Europe.
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Lusa
