The Lufthansa Group submitted a bid to Parpública, the Portuguese state-owned investment company, as part of the bidding process for TAP Air Portugal. The acquisition of an initial minority stake, according to a statement, is intended to establish a long-term partnership between the Lufthansa Group and TAP Air Portugal in order to secure TAP’s successful future as Portugal’s national airline on a sustainable basis.

 Carsten Spohr, CEO of the Lufthansa Group, said: “We want to strengthen Portugal’s national airline as part of the Lufthansa Group and as the leading airline for the South Atlantic, with Lisbon as a strategic hub. With Swiss, Austrian Airlines, Brussels Airlines and ITA Airways, we have demonstrated how the European integration of our Lufthansa Group secures prospects and growth for our home markets and hubs.”

 The Lufthansa Group has been active in Portugal for more than 70 years, according to the company. Currently, the group’s airlines offer 353 weekly flights to and from Portugal. The partnership, according to a statement, “would strengthen Lisbon’s position as a strategically important Atlantic hub within the Lufthansa Group’s network.” Connectivity between Europe and other regions, such as Latin America, Africa and North America, could be expanded, according to the statement.