UA and Lufthansa mulling TAP Air Portugal takeover - report

Wednesday, 26. February 2020 17:56

United Airlines and Lufthansa are mulling taking over Portuguese flag carrier airline TAP Air-Portugal. The company was partially privatized five years ago and is still 50% in the ownership of the state of Portugal.

However, people from the company familiar with the situation confirmed to Sueddeutsche Zeitung that talks are happening but that the whole process could last for a while. 45% is in the ownership of the private consortium Atlantic Gateway while Tap employees have the remaining 5%

Earlier today, Lufthansa announced its cost-savings program that includes halting the hiring of new people in order to deal with the coronavirus that seriously impacted its business.

Related Links: Deutsche Lufthansa AGUnited Airlines Holdings Inc.
Breaking the News / TF