TAP Portugal has been sold

[LJ]

Wow, Portugal may re-nationalise TAP because of a socialist party promise?

LISBON, Portugal (AP) — A battle is brewing between Portugal's new government and the consortium that won the privatization of the country's national airline, with the government insisting on bringing the flag carrier back under state control.

Apart from the fact this will cost them a lot of money, it will also be difficult to achieve as I doubt the EU would allow this. It sounds that it's more PR by the Portugese government than that they'll actually re-nationalise the airline.

[sn26567]

TAP acquires planes from its new shareholder: Azul (Brazil) agreed to send 17 aircraft to sister carrier TAP (Portugal): two A330s, nine E190s and six ATRs. Azul is also returning three E190s at the end of a leasing contract.

Azul will start flying to Lisbon because its sister airline TAP is not allowed to add more flights to Sao Paulo.

[convair]

TAP acquires planes from its new shareholder: Azul (Brazil) agreed to send 17 aircraft to sister carrier TAP (Portugal): two A330s, nine E190s and six ATRs. Azul is also returning three E190s at the end of a leasing contract.

Azul will start flying to Lisbon because its sister airline TAP is not allowed to add more flights to Sao Paulo.

That's the way to treat an affiliate airline! Hello LH!

[CS-TMX]

The current Portuguese Government made a new agreement with Atlantic Gateway consortium where the Portuguese State buys back 11% of the shares and keeps a total of 50% while it is prevented from building a position higher than that. Another 5% from Atlantic Gateway's shares will be made available for the workers of TAP Group and if entirely taken by them, the shareholder breakdown will be:

Portuguese State 50%
Atlantic Gateway 45%
Employees 5%

The previous agreement meant that within two years the Portuguese State would completely sell its position in the airline. Quite a change with this new one!

[sn26567]

As long as management of the airline remains in the hands of Atlantic Gateway and away from incompetent political creatures, no harm!

[CS-TMX]

It had been four long years of turmoil! Let's hope to have peace now...

[sn26567]

HNA Group (which owns Hainan Airlines of China) was granted authorization to become up to 13% shareholder in TAP Portugal, as part of the recently signed Memorandum of Understanding between the Portuguese government and the Atlantic Gateway consortium.

[CS-TMX]

The previous sale agreement that was still under evaluation was rejected in first instance by the Civil Aviation Authority in Portugal since it did not comply with the rules of European ownership and control. In the next three months, TAP's Board of Directors is restricted to day-to-day management acts until the new privatization agreement is evaluated and given the green light.

[CS-TMX]

The arrival of the first aircraft for TAP Express:
http://lisbonjet.tristar500.net/2016/02 ... rived.html

[sn26567]

Azul to invest in TAP Portugal alongside HNA Group

Azul Linhas Aéreas Brasileiras has announced plans to invest 120 million EUR into its new European partner TAP Portugal. According to a report by EXAME, the investment will be made alongside Azul minority investor HNA Group.

Atlantic Gateway, a consortium of investors including Azul and jetBlue Airways founder David Neeleman and Portuguese businessman Humberto Pedrosa have acquired 61% of TAP Portugal last June. The Portuguese government has since bought back some shares to get back to 50% ownership in TAP while the national carrier's employees own 5% of TAP.

It is not clear how the remaining 45% of TAP shares will eventually be distributed between Atlantic Gateway and Azul (and indirectly by HNA Group). The 120 million EUR investment by Azul is part of the 338 million EUR Atlantic Gateway has promised to invest in TAP.

Source: ch-aviation

[CS-TMX]

TAP's privatization was finally concluded last 30th June:



Parpública = Portuguese State Company (50%)
Barraqueiro = Portuguese Private Transport Company (22.95%)
DGN = David Neeleman (18.9%)
HNA Group (3.15%)
Trabalhadores = Employees (5%)

The remaining arrows are convertible bonds subscribed by the Portuguese Government and Azul Linhas Aéreas Brasileiras.

I have some ~0.0001%

[sn26567]

I have some ~0.0001%

I hope your investment will be profitable

[CS-TMX]

I have some ~0.0001%

I hope your investment will be profitable

Ahahaha! I'm not looking for a profit. It was just the affective connection with the airline

[CS-TMX]

TAP readopts its old trade name: