Germany's Lufthansa is poised to beat Air France-KLM in the race to acquire a 44.9% stake in Portugal's national airline, TAP Air Portugal, according to a report by Portuguese broadcaster SIC cited by Reuters on Tuesday. The Portuguese government is expected to announce its decision at an extraordinary Cabinet meeting today.

Air France-KLM and Lufthansa have both submitted improved final bids for a major stake in Portuguese carrier TAP Air Portugal. This was reported by the state holding company Parpública. The final decision is expected in mid-October.The Franco-Dutch and German airline groups are competing for a stake of at least 44.9 percent in TAP, which was nationalized during the covid-19 pandemic. Both are reportedly in part drawn in by TAP’s routes to Africa and South America.