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Portugal: towards privatization of TAP carrier

The Government plans to sell at least 51%, but will evaluate proposals

The privatization of the national carrier Transportes Aéreos Portugueses (Tap) comes to life. The Government plans to sell at least 51% of the airline's capital, but in recent hours it has made it known that it will decide the precise size of the stake to be sold only after the competitors present their proposals. It emerged in parliament yesterday.

"It is one of the last independent flag carriers, due to the consolidation trend in Europe. Today we have the unique opportunity to choose which will be its long-term partner. Before we know the concrete proposals of the competitors and any future improvements of those offers, we cannot define the exact share of TAP that will be sold", said Infrastructure Minister Joao Galamba

To this end, the government will soon appoint financial advisors and plans to start privatization negotiations by the end of 2023, with the process expected to be concluded by mid-2024. Among the suitors: Lufthansa, Air France-KLM, the Iag and a consortium of Iberian entrepreneurs. Lisbon's goal is to find a buyer who will preserve the brand while improving the company's performance. 

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency