Lufthansa beats Air France-KLM to a 44.9% stake in TAP
Germany's Lufthansa won the race for a 44.9 per cent share of Portugal's flag carrier TAP with a $1.3 billion bid, outbidding Air France-KLM. Lisbon keeps the controlling stake for now.
Why it matters Consolidation of European aviation hands Lufthansa a strong gateway to Brazil and changes the competitive map for transatlantic flyers.
