“The Lufthansa Group today formally expressed its interest in participating as a bidder in the privatization process of TAP Air Portugal. A letter to that effect was delivered to Parpública, the Portuguese state holding company, within the established deadline,” the German company states in a press release.

“In addition to initially acquiring a minority stake, the objective of the process is to establish a long-term partnership between the Lufthansa Group and TAP Air Portugal, in order to guarantee the successful future of TAP as Portugal's national airline,” it adds.

Carsten Spohr, CEO of the group, says that Lufthansa's proposal aims to "strengthen Portugal's global connectivity, preserve TAP's Portuguese identity, and ensure the airline's sustainable growth."

According to Spohr, the Portuguese airline has "significant strategic importance for the European aviation industry." He believes that the Lufthansa Group would be the "best partner for TAP and Portugal," arguing that both companies are in the Star Alliance and have made "substantial investments in Portugal."