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Tap Portugal privatization: the crux of the negotiation

Costa: "The goal in itself is not to maximize revenue from the sale"

The government of Portugal, led by Prime Minister Antonio Costa, ensured in the past few hours that the privatization procedure of the national airline Transportes Aéreos Portugueses (Tap) Portugal will follow two precise conditions: to maintain the airport hub at the "Humberto Delgado" of Lisbon-Portela; safeguard the strategic role of the airline as a pillar of the national interest. 

The Costa executive wants to privatize the company by the end of 2023. Competing for the acquisition are Air France-KLM, the Germans of Lufthansa, and International Airlines Group (IAG). The Franco-Dutch Group, after the agreement to acquire the Italian ITA Airways has faded, must expand the perimeter of the business in Europe to remain competitive: therefore, entry into TAP is strategic, thanks to the profitable routes to Brazil and Africa. The French-Dutch could win, thanks to the fact that Air France has completed the repayment of state support and therefore has the green light from Brussels to invest in new acquisitions.

In any case, Costa's statement suggests that Portugal wants to maintain a strategic stake in TAP and will not offer all of its capital in the privatization deal. The government has hinted that it will not aim to maximize revenue from the sale as "it is not the central objective in itself".

Gic - 1252084

AVIONEWS - World Aeronautical Press Agency