Lufthansa Group Poised to Take Strategic Role in TAP Air Portugal Privatization
The Lufthansa Group has expressed a formal interest in participating in the privatization of TAP Air Portugal. This interest was communicated through a letter sent to Parpública, the Portuguese state holding company, within the required timeframe.
Lufthansa’s Strategic Role in TAP Air Portugal’s Privatization
The Lufthansa Group aims to initially acquire a minority stake in TAP Air Portugal. The long-term vision is to establish a partnership that will ensure the sustained success of Portugal’s national airline.
Statements from Leadership
Carsten Spohr, CEO of Deutsche Lufthansa AG, underscored the importance of this process. He stated, “The Lufthansa Group welcomes the Portuguese government’s privatization initiative. Our goal is to enhance Portugal’s global connectivity while maintaining TAP’s unique Portuguese identity. We aim to ensure the airline’s sustainable growth.”
The Importance of TAP Air Portugal
- TAP Air Portugal holds a significant position in the European aviation sector.
- It has been a partner in the Star Alliance, reinforcing collaborative efforts in international travel.
- The airline’s successful future is vital for fostering advantageous connections between various global regions.
History and Investment in Portugal
The Lufthansa Group has been operational in Portugal for over 70 years. Currently, its airlines provide more than 280 weekly flights to and from the country, employing over 400 skilled workers.
Future plans include constructing a new Lufthansa Technik site in Santa Maria da Feira, near Porto. This project could increase employment to 1,000 by 2030.
Enhancing Lisbon as an Atlantic Hub
A potential partnership could bolster Lisbon’s role as a critical hub within the Lufthansa Group network. It could also enhance connectivity between Europe, South America, Africa, and North America.
Consolidation and Stability
The Lufthansa Group has a proven record of successful consolidation in Europe. This includes strengthening national airlines such as SWISS and Austrian Airlines while maintaining their unique identities. As the leading global airline outside the US, the Group possesses the necessary experience, size, and financial stability to drive sustainable growth for TAP Air Portugal.
In summary, the Lufthansa Group’s engagement in the privatization of TAP Air Portugal could not only enhance the airline’s operational prospects but also strengthen its role as an ambassador for Portugal on the global stage.
