Report: Portugal picks Lufthansa for 44.9% of TAP

Report (single source): according to Rzeczpospolita, Portuguese Prime Minister Montenegro said on 14 Oct 2026 that Lufthansa submitted the best offer for 44.9% of airline TAP; the Air France-KLM bid was reportedly 16% lower. After the sale the state would hold 51.1% and employees 5%; the remaining state stake is to be put up for sale by 2028 at the latest. The government expects €2.55bn in total from the privatisation, according to the report; the price for the 44.9% stake is not stated, and contract signing and merger control are still pending (rp.pl, 14/15 Oct 2026). Update (14.10.2026): Following the cabinet meeting, Portugal's government officially announced that Lufthansa will receive 44.9% of TAP; according to Prime Minister Montenegro the bid is 16% higher than the rival's. The transaction brings in €1.201bn in this first phase at a total valuation of €2.552bn, the state keeps 50.1%, and Lufthansa takes over executive and operational management. Regulatory approvals are still required (Euronews, 14 Oct 2026).