00:01The Portuguese government announced on Wednesday that German courier Lufthansa has been chosen to buy a 44.9% stake
00:10in cap as part of the Portuguese airline's privatization.
00:15Portuguese Prime Minister Luis Montenegro said that the transaction will bring in 1.2 billion euros in this first phase.
00:23The state will retain a majority stake of 50.1% in the company.
00:44The proposal will support further investments including 500 million euros to set up a new pilot training school, an innovation
00:52center and a corporate services center.
00:55Miguel Pinto Lufthansa, Minister for Infrastructure and Housing, set out the offer in detail, highlighting plans to expand the fleet
01:03to 117 aircraft by 2035 and 130 after 2035.
01:10The proposal also includes investment into airports.
01:13The government said last week that the privatization process would only be concluded in 18 to 24 months in 2028
01:22after approval from the European Commission.
