TAP Air Portugal to tap private investors in next 12 months
Portugal's Prime Minister Antonio Costa has been widely quoted saying that the privatisation of TAP Air Portugal is planned in the next 12 months. The airline's CEO Christine Ourmières-Widener has said that the integration of Portugal's national airline into a large aviation group would "would be a source of resilience for the future".
A partial privatisation in 2015, sparked an expansion period for TAP, but the onset of the COVID-19 pandemic in 2020 caused a collapse in traffic. It also led to a series of bailout payments from the Portuguese government and a restructuring programme.
The alternative, according to ministers, would have been TAP's closure and the loss of Portugal's central aviation position. As a consequence, TAP is now fully state controlled, but the government has long indicated the airline will need new partners and investors to compete in the post-COVID world.
This report looks at some of the key features of TAP that any prospective partner may be assessing.
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