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The government has informally declared to the European Commission that it would approve the entry of the German airline Lufthansa into the capital of TAP. The news is advanced in this Friday’s edition of the newspaper Expresso, according to which the same message was transmitted to Lufthansa shareholders.
The interest of the German company in the Portuguese was manifested last year. In February this year, just before the pandemic, Lufthansa even negotiated with David Neeleman the purchase of the position he held at TAP, through Atlantic Gateway, in partnership with the North American United Airlines.
The negotiations were confirmed by the Minister of Infrastructure and Housing, Pedro Nuno Santos, who never hid that he was in favor of the deal. “The Portuguese state would not disparage a partnership with Lufthansa. We are aware that airlines have difficulties to operate and survive in isolation,” he said in June. The German airline never made an offer for TAP, but it is known that the Portuguese airline was valued, before the pandemic, between 800 million and 1 billion euros.
Despite the interest expressed by the Portuguese Executive, which lent 1,200 million euros to TAP, which could be converted into capital, the deal cannot be finalized in the short term, because Lufthansa received a package of aid from the German State, under the terms of the covid support, and until you return 75% of the amount received, you will not be able to enter the capital of another airline.
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