Lufthansa Turns Intent into TAP Offer, Pledges 1,000 Jobs and Faster Flights

TAP’s latest rendez-vous with the private sector is moving from speculation to paperwork. A formal letter of intent has reached Parpública, confirming the Lufthansa Group as an official contender for the government’s plan to transfer 44.9 % of the flag-carrier’s capital to a strategic investor while reserving 5 % for employees. The German conglomerate says it wants far more than a slice of equity; it wants to bind TAP into what it calls a “long-term partnership” designed to expand Lisbon’s footprint on the Atlantic map and keep the airline unmistakably Portuguese.

A shot across Europe’s skies

Carsten Spohr, the airline group’s chief executive, framed the move as an effort to reinforce “the global connectivity of Portugal”. The message, delivered in a tone both diplomatic and confident, places the emphasis on TAP’s strategic South Atlantic corridor, its fleet of next-generation Airbus narrow-bodies, and a Lisbon hub that sits almost equidistant between São Paulo, Luanda and New York. Lufthansa is aiming for a minority start, yet insiders in Berlin already speak of a blueprint that could unlock joint fleet purchases, shared loyalty platforms and faster inter-lining across the Star Alliance network.

Why it matters at home

For travellers leaving Porto on a Wednesday evening or families in Faro looking for a single-stop connection to Boston, the offer could translate into shorter layovers and higher seat availability. Government officials see a different payoff: the prospect of Lufthansa investing in a maintenance and repair centre in Santa Maria da Feira capable of 1 000 new jobs by 2030, plus capital injections in sustainable aviation fuel projects that dovetail with Portugal’s own hydrogen ambitions. The brand-preservation clause written into the caderno de encargos insists that TAP’s green-and-red livery, Portuguese crews and Portuguese-language onboarding remain intact—an element Lufthansa’s board has publicly promised to respect.

The rival bids

Lufthansa is not alone in the chase. Air France-KLM confirmed its interest two days earlier, and IAG, owner of British Airways and Iberia, signalled readiness weeks ago. All three satisfy the government’s size threshold of €5 B in annual revenue and all would prefer some degree of operational control. Yet there is a political calculus: Paris and Amsterdam already team-up under one roof; Madrid and London share another. Many economists argue that Lisbon’s Atlantic vocation and Portuguese-speaking markets could align more naturally with a German partner that lacks a significant South American footprint.

Workers demand a seat

Cabin-crew union SNPVAC warns that any sale without labour on board may trigger turbulence. Its president, Ricardo Penarróias, insists that “if the people flying the planes are ignored, the deal will not fly.” The 5 % share pool reserved for staff is welcomed, yet unions want early visibility over route planning, crew bases, and the fate of collective bargaining agreements. So far the ministry has offered little more than assurances that the winning bidder must pledge to honour existing contracts and maintain Portuguese labour law standards.

Rulebook and countdown

Under the timeline approved in September, Parpública must deliver its preliminary assessment to the finance ministry by 12 December 2025. Candidates that pass the fit-and-proper test will then have a maximum of ninety days to lodge non-binding offers, followed by another window for binding proposals after due diligence. Government advisers quietly concede that the real yardstick is money: they want to recoup the €3.2 B injected during the pandemic while securing commitments to grow the fleet, expand Lusophone routes, and accelerate SAF adoption.

Analysts split on the runway

Aviation consultant Pedro Castro remains unconvinced, arguing that Lufthansa could inherit a “slot headache” at Lisbon airport and face antitrust scrutiny on the North Atlantic. Conversely, former TAP chairman Miguel Frasquilho contends that public ownership has run its course and that a deep-pocketed ally can push the carrier further into profit—TAP registered positive results in 2022, 2023 and 2024 and looks poised to repeat the feat this year. Both camps agree on one point: whoever wins must ease congestion at Humberto Delgado Airport or risk squandering TAP’s hard-earned rebound.

What happens next

The finance ministry still predicts an announcement in the middle of 2026, though seasoned observers suggest that regulatory files in Brussels could stretch the calendar. Until then, Portugal’s flagship airline will continue its own climb-rate—launching winter services to Salvador da Bahia and boosting frequencies to Newark—while political leaders weigh not just the price tag but the credibility of each partner’s vision. For passengers contemplating their 2026 summer itineraries, the message is simple: the colour of the tailfin may remain the same, yet the corporate logo stamped beside it could soon bear a starker shade of blue or a tricolour flourish.