tap plane

Government prepares to approve TAP privatisation bill

The Portuguese government is set to approve a law that will define the criteria for the privatisation of TAP at the next Council of Ministers meeting on September 28.

At a debate in parliament last week, the prime minister underscored that the European Commission had recognised that the government has been successfully implementing the airline’s restructuring plan.

“Next week we will approve the bill that establishes the TAP privatisation framework, protecting the company and the interests of Portugal and the Portuguese,” said António Costa.

The Prime Minister recalled that, in 2022, “TAP had made a profit” and transported 7.6 million passengers in the first half, achieving 96% of the passengers carried in the pre-pandemic period of 2019.

He stressed the strategic importance of TAP and admitted selling part “or all” of TAP, “taking Portugal’s interests on board”.

The TAP sale process began in April when the Council of Ministers approved a resolution that mandated the Ministry of Finances and Parpública – the holding that controls Portugal’s public companies – to begin valuing the airline by two independent entities, EY and Finantia.

Source: Essential Business