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Investing.com -- Germany’s Lufthansa has officially submitted its proposal to acquire a minority stake in Portugal’s state carrier TAP, the airline confirmed Thursday.
The German carrier filed its interest with Portuguese state holding company Parpublica, offering a "long-term partnership" alongside its bid for the airline stake.
Lufthansa CEO Carsten Spohr emphasized the strategic fit between the companies, stating, "As a long-standing partner in the Star Alliance and with our extensive investments in Portugal, we continue to see the Lufthansa Group as the best partner for TAP and for Portugal."
The German airline faces competition from Air France-KLM and British Airways owner IAG, both of which have also expressed interest in acquiring the TAP stake. Air France-KLM confirmed Thursday it had registered its interest with Parpublica.
Portugal’s government relaunched the privatization of TAP in July, offering a 44.9% stake to an airline that could enhance scale and competitiveness. An additional 5% will be sold to TAP employees.
In its statement, Lufthansa noted that its investment plans take into account TAP’s "great strategic importance to the European aviation industry."
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