The Portuguese government has approved a decree law that paves the way for the privatisation of at least 51% of TAP Air Portugal’s capital. This privatisation process aims to attract an investor or consortium with strategic objectives, including the growth of the airline, the expansion of the national hub, investment in high-value aviation activities, and better utilisation of national airports.
The government is also reserving up to 5% of the company’s capital for workers.
TAP Air Portugal has reported positive financial results, making it an attractive prospect for potential investors. The government’s emphasis is on finding investors aligned with these strategic goals rather than purely financial interests.
The privatisation process does not affect the European Commission-approved restructuring plan for TAP, which runs until December 31, 2025.
This post was published on 29 September 2023 00:00
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