Lufthansa CEO Carsten Spohr reaffirmed the significant strategic importance of TAP, highlighting its routes to South America. 'With TAP, we would be perfectly positioned for South America.' Currently, the Lufthansa Group holds a smaller market share of South American flights than Air France-KLM and IAG, the parent company of Iberia. Acquiring TAP would allow it to pull level with its rivals.
'Our interest remains unchanged,' Spohr said. He added that Portugal is an attractive location in its own right. For instance, the maintenance subsidiary Lufthansa Technik is set to open a facility there shortly. The southwestern European country could also be considered as a location for a new flight school. Lufthansa is receiving political backing from Chancellor Friedrich Merz, who spoke out in favor of cooperation between Lufthansa and TAP on Tuesday following a meeting with his Portuguese counterpart, Luís Montenegro.
Portugal intends to sell a 44.9 percent stake in TAP and has been in talks with Lufthansa and Air France-KLM for some time. Bidders are expected to submit binding offers to the government in Lisbon by the end of July. The process is scheduled to be completed by early September.
(Report by Ilona Wissenbach, edited by Thomas Seythal)
