Latest news and stories about lufthansa in finance in Portugal for expats and residents.
An analysis of the media narrative and critical discourse surrounding the TAP-Lufthansa agreement, examining the persistent drive to devalue the airline's privatisation process.
Lufthansa Group has received approval to acquire a stake of up to 49.9% in TAP Air Portugal for €1,201 million, edging out Air France-KLM. While the Portuguese state retains majority control, the German carrier has signalled readiness to take a majority position in the future, marking a pivotal moment in the privatisation saga of the national airline.
The Council of Ministers, between calls to national coaches and responses to the PPC, chose Germany: 1.201 billion for half of TAP. With conditions, including a pilot school in Tancos.
The head of German diplomacy, Johann Wadephul, argued today with his Portuguese counterpart that the acquisition of part of TAP by the German airline Lufthansa will “strengthen Europe as a hub” and allow for the creation of new jobs.
The President of the Republic, António José Seguro, stated this Thursday that a future total privatisation of TAP requires a 'broad consensus' and a 'serene' and 'rational' debate. Regarding the partial sale to Lufthansa, he emphasises that the important thing is to 'safeguard the country's strategic interests'. 'The other phase, should it exist [privatisation of 100% of TAP], ...'
The company identified Lisbon as the group's main gateway for long-haul connections to the South Atlantic.
The Minister of Finance stresses that not taking advantage of Lufthansa's offer for 100% of TAP would be “a historic error”.
The Aircraft Maintenance Technicians' Union (SITEMA), which represents nearly one thousand technicians (mostly TAP employees), views the choice of Lufthansa as a future shareholder of TAP with “positive expectation”, but wants to understand how the investments announced for maintenance and engineering will be implemented. “SITEMA views the choice of...
Lufthansa welcomed today the Government's decision to select the group for the partial privatisation of TAP, a move they stated paves the way to continue a “trajectory of success”. In a statement sent to newsrooms, Lufthansa said that “the Lufthansa group welcomes the announcement made today by the Portuguese government to initiate the process of full privatisation of TAP Air Portugal”.
The Portuguese government has confirmed plans to sell a minority stake in the national carrier TAP to the Lufthansa Group.
It is a desire that could be fulfilled, but not yet, only in 2028. Business leaders present at the Fábrica 2030 conference, organised by ECO this Wednesday at the ANJE headquarters in Porto, view the sale of 44.9% of TAP and the choice of Lufthansa as buyer as positive, but stress that they would have preferred a 100% sale of the company.
The state will hold five of the nine members of the TAP Board of Directors.
Lufthansa reacted to its victory in the privatisation process with a promise to support TAP's growth, viewing the deal as an opportunity to strengthen the group's position in the South Atlantic. It also expressed a desire to increase its stake in the airline, stating that “previous acquisitions have shown that a majority stake generates additional benefits for all.”
TAP CEO Luís Rodrigues said this Wednesday that the sale of 49.9% of TAP to Lufthansa was made at a “fair value” and that “no one would pay for a value that was not fair”. The statements were made on the sidelines of a panel with the CEO of Star Alliance and the CEO of...
TAP welcomed Lufthansa and expects the partnership to translate into “concrete growth opportunities” and a “stronger and more competitive” company, highlighted chairman Carlos Oliveira. In a statement released after the Government announced that the Germans had won the race in the privatization process, paying 1.201 billion...
Prime Minister Luís Montenegro advocates for a second phase of TAP's privatisation, involving the sale of the remaining 50.1% to Lufthansa, which includes a share swap with the German group. The State invested 3.2 billion euros in TAP and the Government has expressed its intention to recover the invested amount, stated Luís Montenegro.
The Prime Minister already admits that the partnership with the Lufthansa group could go further, but does not directly mention the privatisation of TAP.
The Prime Minister already admits that the partnership with the Lufthansa group could go further, but does not directly mention the privatisation of TAP.
The stoppage will take place between 00:01 on Monday and 23:59 local time on Tuesday and includes the various companies in the group: Lufthansa, Lufthansa Cargo, Lufthansa CityLine, and Eurowings.
A TAP plane streaks towards the skies near Lufthansa's headquarters, right next to Frankfurt airport. “It's a sign,” exclaims Andreas Bartels, who leads communications for the German group, dispelling any doubts that Lufthansa will submit a non-binding proposal for the privatisation of TAP by Thursday. The intention is...
