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Lufthansa Wins €1.2 Billion Bid for TAP Air Portugal
Lufthansa Group has beaten Air France-KLM in the race for a stake in TAP Air Portugal, with a deal worth up to €1.2 billion. The initial acquisition covers 44.9%, with a further 5% reserved for employees. The Portuguese government will remain the majority shareholder, with a 50.1% stake.
The IAG Group had initially expressed interest but withdrew from the process in April. Lufthansa reportedly offered about 16% more than Air France-KLM, which had planned to develop Lisbon as its southern European hub. The investment also comes at a challenging time for TAP, which reported a net loss of €99.2 million in the first half of 2026, mainly due to rising fuel costs, despite a 4.3% increase in revenue and a record 8.2 million passengers.
TAP is already a Star Alliance member alongside Lufthansa, so there will be no major alliance changes, which should make things easier. As with the stake in ITA, which led to its move from SkyTeam to Star Alliance, TAP’s Miles&Go loyalty programme will most likely integrate with Lufthansa’s Miles&More programme, though nothing has been announced yet.
TAP is a useful option for competitively priced long-haul Business Class fares across the Atlantic if you’re happy to connect in Lisbon. Hopefully the changes won’t push fares up.
The deal still requires regulatory approval, including from the European Commission, and could take until 2028 to complete.
Fantastic News: AMEX Platinum Dining Credit Extended
If you were wondering whether the Amex Platinum Card is still worth it when the dining credit ends, you’re in luck. The £400 in annual dining credit has been extended until 30th June 2029, instead of ending in December 2026.
The UK Platinum benefit is currently £400 a year, split into £100 UK + £100 abroad, renewing on 1st January and 1st July each year.
If you use it all, that’s £400 of the annual fee justified, reducing the effective cost to £250 for extra benefits such as lounge access, Membership Rewards points, travel insurance, and hotel status. If you used the benefits until 30th June 2029, that’s £1,000 more in benefits than you would have received.
If you haven’t got the card yet, consider applying this month. Credit resets every six months, not on your card anniversary. If you apply in October, you could potentially use three sets of dining credits during your first card membership year, worth up to £600. There’s also a welcome bonus of 75,000 Membership Reward Points, up from 50,000, when you spend £6,000 in the first three months of card membership (some people are seeing lower offers).
You can use the credit across multiple meals rather than in one transaction. However, unused allowances won’t roll over, and only spending on the main Platinum Card qualifies.
You must register for both the UK and overseas dining offers before you can earn any statement credits.
For a full breakdown of the other benefits, you can read our AMEX Platinum Guide.
BA Amex Accelerating Business Card: 30,000 Avios Plus Up to £400 in Travel Credits
The British Airways American Express Accelerating Business Card now offers £200 in annual credit towards Avios Hotels and Avios Car Hire bookings, plus a 30,000 Avios welcome bonus. This is great news, given the less-than-welcome changes to the personal British Airways Amex cards.
New cardholders can receive 30,000 Avios after spending £5,000 in the first three months. Unlike some other business credit cards, this one is open to sole traders, with a minimum personal income requirement of £20,000. You can also qualify for the welcome bonus if you hold a personal BA Amex, provided you haven’t held an Amex Business card in the previous 12 months.
The £200 travel credit renews each calendar year rather than on your card anniversary, so if you apply before the end of 2026, you could use £200 before the end of 2026 followed by another £200 from 1st January 2027, giving you up to £400 of statement credit against the card’s £250 annual fee. You can also book travel for 2027 using this year’s allowance, as long as you make the eligible payment before the end of December. You don’t have to use the credit in one transaction either.
The earning rate has recently been reduced from 1.5 to 1.25 Avios per £1, and it no longer earns BA On Business points, which is disappointing. However, you still get 10,000 bonus Avios for every £20,000 spent, up to three times per calendar year.
If you have regular business expenses and can make use of the benefits, this is a great offer!
