Categories: Market

Air transport: Portugal’s airline TAP will be privatized

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Portuguese airline TAP’s Airbus A321 approaches Lisbon. (archive image)

According to state news agency Lusa, Medina said after the cabinet meeting in Lisbon that five percent was reserved for employees. The Minister emphasized that they are looking for a major investor in the aviation sector.

In the past, there has been repeated speculation that Switzerland’s parent company, German Lufthansa, was also interested in TAP. The newspaper “Público” reported on Thursday about at least three possible parties: in addition to Lufthansa, Air France-KLM and the aviation group IAG, the parent company of British Airways and Iberia.

Last week, Prime Minister António Costa stated in parliament that the entire capital of TAP could be placed in private hands. Medina emphasized that the contract for the privatization of TAP will be awarded not to the company that “simply” offers the most money, but to the company that provides the best service to the country and the country’s economy. Lisbon should be retained as a hub for air traffic, especially to South America.

TAP was previously partially privatized. In 2016, the state increased its share again to 50 percent and took over the line completely during the 2020 corona epidemic. Founded in 1945, TAP has around 6,600 employees and around 100 machines.

(SDA)

Source :Blick

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