Frankfurt, Mar. 6, 2026 (Lusa) - Lufthansa has confirmed its interest in participating in TAP's privatisation, acknowledging industrial synergies and the possibility of new investments in Portugal, including the creation of a pilot training school.
The CEO of the German group, Carsten Spohr, described TAP as a “perfect match,” highlighting the potential of the Brazilian and Latin American markets in the company's expansion strategy.
“We want to continue this process because TAP would be a perfect match for us,” he said at the press conference to present the 2025 results, stressing that the Portuguese carrier could strengthen the group's presence in these markets.
He also highlighted Portugal's strategic importance in the aviation sector, referring to the investments already underway in the country.
Lufthansa Technik is building an industrial unit in the Lusopark business park in Santa Maria da Feira, Aveiro district, dedicated to the repair and maintenance of aircraft components, as part of an investment valued at hundreds of millions of euros, expected to create more than 700 skilled jobs by 2027.
“Portugal could become a very important strategic partner, not least because we are currently building a Lufthansa Technik facility in Portugal,” said Carsten Spohr.
Lufthansa is also evaluating the possibility of establishing a pilot training school in Portugal in conjunction with the Air Force.
“We are also assessing whether the pilot school, which we are discussing with the Air Force, could be located in Portugal,” he said.
The German group also emphasised its intention to strengthen Lisbon's position as an air hub amid competition from Europe and the South Atlantic. “You only have to look at the map of Europe and see where Lufthansa has its hubs to understand Portugal's unique position,” he commented.
He pointed out that the competitors for privatisation, Air France-KLM and IAG, owner of Iberia and British Airways, already have a strong presence in markets close to Portugal.
"Our competitors are already big in the South Atlantic. Some have hubs in Madrid, others in Paris, which are much closer to Portugal. This means that the threat to a hub in Lisbon would be greater, which would be another argument for the Lufthansa group,“ he said.
Carsten Spohr, however, pointed out that the privatisation process is in its early stages and that the European aviation map is not expected to undergo significant changes. ”The process is just beginning, but the European map will not be changed in this process," he said.
Asked about contacts with the Portuguese government and potential approval by the European Commission, the CEO said it was too early to draw conclusions.
“It's too early to say that. But we are also talking to the government, because this transaction will only go ahead if it creates value for our stakeholders,” he said.
He added that the completion of the operation will depend on financial conditions. “It depends on the costs and prices that will have to be paid,” he said.
Non-binding bids for the privatisation of TAP must be submitted to Parpública by 2 April and must include a financial component, such as the price offered for the shares and future valuation mechanisms (‘earn-outs’).
Interested parties will also have to submit industrial and strategic plans, synergies, and guarantees to maintain TAP's status as an EU air operator.
The specifications provide for the sale of up to 44.9% of TAP's capital, with 5% reserved for employees, with any unsubscribed shares subject to the future buyer's right of first refusal.
Lufthansa posted a profit of €1.3 billion in 2025, down 3% from the previous year, despite record revenues of €39.6 billion.
SCR/ADB // ADB.
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