Lufthansa Group CEO Carsten Spohr believes the potential acquisition of a minority stake in Portuguese flag carrier TAP Air Portugal would create synergies with ITA Airways in southern Europe and strengthen the group's position in the transatlantic and Latin American markets.
Speaking during Lufthansa's second-quarter 2026 results presentation on August 4, 2026, Spohr said: "Together, Lufthansa Group, including ITA and TAP, would catch up to the current market leader in terms of market share."
He cited ITA's successful integration as proof of Lufthansa's value as a long-term owner and said TAP would retain the benefits of Star Alliance while also gaining access to Lufthansa's transatlantic joint venture with United Airlines and Air Canada under existing US antitrust immunity. He added that the proposal submitted to the Portuguese government was developed in coordination with United Airlines.
TAP's privatisation process has entered its final evaluation stage after Lufthansa Group and Air France-KLM submitted binding offers on July 29 for a 44.5%-44.9% stake in the airline, with an additional stake of up to 5% reserved for employees.
The bids, submitted to state holding company Parpública, conclude the third phase of the privatisation process relaunched by Prime Minister Luís Montenegro's government in 2025.
Parpública now has 30 days to assess the offers and submit a report to the government, although the review period may be extended if additional information is requested from either bidder.
