Carsten Spohr, CEO of Lufthansa, said on Sunday that it was too early to discuss the German airline group's prospective interest in acquiring Portugal's TAP because the Portuguese government is still discussing the privatization process.
Portugal aims to preserve a strategic share in state-owned airline TAP and will not give all of its capital in the next privatization, according to Joao Nuno Mendes, the country's secretary of state for finance. "There's still discussion in Portugal about how that privatization will take place, and it's not supposed to be 100 percent privatization," Spohr told media at the International Air Transport Association's annual convention in Istanbul.
At least three major global carriers, Lufthansa, Air France-KLM, and IAG, the parent company of British Airways, have expressed interest. Lufthansa said last month that it will acquire a 41% interest in Italian airline ITA Airways, marking the latest big consolidation in Europe's aviation sector. Spohr emphasized that the purchase was still subject to approval by the European Commission, but that once approved, ITA Airways will be included into the Lufthansa group's global sales contracts to help it boost revenue.
He said that a handful of planes were grounded owing to supply chain concerns - at least ten throughout the company - and that the Boeing 777X will begin delivery in early 2025. "Boeing is saying late 24 or early 25 - which means early '25," Spohr explained.