The Government of Portugal has confirmed the resumption of the privatization process of its flag airline, TAPwhich is expected to materialize in 2025. Miguel Pinto Luz, Minister of Infrastructure, indicated this Thursday before the parliamentary commission that the decision responds to the interest expressed by more than a dozen national and international investorsincluding global operators such as Air France-KLM, Lufthansa and IAG, owner of Iberia, Vueling or British Airways.
He privatization plan for TAP was approved in September 2023during the socialist administration, and authorized the sale of at least 51% of the airline. However, the process was put on hold after early elections in March, which gave way to a center-right coalition. Pinto Luz declared that, after these changes, a dialogue has begun with all interested parties to define the terms of the sale, according to Reuters.
The minister stressed that the airline has strengthened its financial position and has achieved operating results comparable or superior to those of other European airlines. Whatever the final sales model, The government has decided to retain the TAP brand and its operations center in Lisbon. In addition, strategic routes to key destinations in Brazil, Angola, Mozambique and the United States, essential for the Portuguese diaspora, will be maintained.
For his part, Prime Minister Luis Montenegro recently suggested that, while a full sale remains an option, the possibility of partial participation is also on the table. In fact, in September it was learned that Lufthansa was evaluating a possible purchase of up to 19.9% in TAP, a percentage that would allow it to avoid review by the European Commission, by falling below the 20% threshold.
For its part, Air France-KLM has declared its openness to various forms of participation in TAP, including the acquisition of a minority stake. Both have been joined by the Anglo-Spanish IAG, owner of Iberia, which seeks to reverse the frustrated absorption of Air Europa with the acquisition of the Portuguese airline, which would allow it to expand its dominance in the Atlantic. IAG sources point to elEconomista.es that are waiting to know the conditions of privatization to advance your purchase offer.
The process, scheduled to begin in 2025, will seek to respond to market expectations, as confirmed by Executive sources, and will serve to consolidate the development of TAP at the European level.
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