Lufthansa believes that TAP can complement the Italian airline's operations. ITA Airways and to strengthen the group's presence in the transatlantic market.
The assessment was made by Lufthansa CEO Carsten Spohr during the presentation of the group's results on Tuesday (4), when commenting on the company's participation in the privatization process of the Portuguese company.
According to Spohr, TAP has strategic value due to its position in the South Atlantic, especially because of the connections with BrazilLatin America, Africa, and North America.
Lufthansa intends to maintain Lisbon as one of the company's main hubs and expand TAP's operations. The group has also advocated for the growth of Brazilian routes and the strengthening of activities in Porto.
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For Lufthansa, TAP and ITA have complementary operations. While the Italian carrier strengthens the group's presence in the Mediterranean, the Portuguese company would expand its position in western and southern Europe.
“We want to strengthen the Portuguese national airline as part of the Lufthansa Group and as the main airline for the South Atlantic, with Lisbon as a strategic hub,” said Spohr.
Lufthansa and Air France-KLM have submitted binding proposals in the TAP privatization process, which has entered its third and final mandatory stage.
The German group has also been expanding its presence in southern Europe. In June, it exercised its option to increase its stake in ITA Airways from 41% to 90%, in a transaction worth 325 million euros.
In Portugal, Lufthansa Technik is building an aircraft component maintenance and repair unit in Santa Maria da Feira. The project is expected to create more than 700 skilled jobs by 2027.
