Taking Over Europe? Lufthansa Picked To Buy TAP Air Portugal

AI Summary

Lufthansa has been selected to acquire a 44.9% stake in TAP Air Portugal, beating Air France-KLM as the only other bidder. The transaction is part of TAP’s privatization and still requires approval from the European Union.

Lufthansa has defeated Air France-KLM to purchase a 44.9% share in TAP Air Portugal, according to the Independent. The two aviation groups were the only bidders. It is a significant step towards privatizing Portugal's airline. Although the deal is done, it still requires European Union approval.