Questioned about whether the court ruling on reimbursements to cabin crew might lead to a revision of their offer, Lufthansa confirmed their interest and stated they are evaluating their “potential participation and investment, fully in compliance with the sale process and guided by the strategic interest in TAP.”
The judicial process, whose ruling has become final, confirmed the nullity of a clause in the previous collective labor agreement that discriminated against workers with fixed-term contracts, potentially leading to compensations of 200 to 300 million euros according to the National Union of Civil Aviation Flight Personnel, significantly above the 41 million provisioned by TAP earlier this year.
“We are currently analyzing the process, carefully evaluating the published terms of reference, and reviewing all requirements, all within the 60-day timeframe” that had been stipulated, added the same source.
In September, Lufthansa had already expressed interest in TAP’s privatization, highlighting the historical connection through the Star Alliance and the investment in the aircraft components and engine repair facility in Santa Maria da Feira, expected to start operations by the end of 2027.
“We have consistently expressed our strong and long-standing interest in acquiring a stake in the Portuguese flag carrier, TAP Air Portugal. The Lufthansa Group supports the consolidation of European airlines. Therefore, we warmly welcome the privatization process launched by the Portuguese Government,” reaffirmed the same official source today.
When questioned if they would revise their offer following the court’s decision on crew reimbursements, Air France-KLM reiterated their interest in TAP’s privatization, while IAG (owner of Iberia and British Airways) did not comment.
The terms of reference specify the sale of up to 44.9% of TAP, with 5% of the capital reserved for employees, according to the Privatization Law, with the future buyer having a preference right over the unsubscribed stake.
According to the schedule, candidates must submit their declaration of interest to Parpública, the manager of state holdings, by November 22. The Government anticipates the process to be concluded within a year, subject to Brussels’ approvals.
To date, Air France-KLM, IAG, and Lufthansa are the airlines that have publicly expressed their interest, although the privatization process is also open to potential investors outside Europe.
