Economy minister says airline can give back to country thanks to increased demand

Portugal’s minister of economy said on Thursday that despite the war in Ukraine and the rise in fuel prices, there are conditions for a surge in demand for air transport, with TAP taking a leading role, meaning it will recover the investment the country made in it.

“New tribulations are indeed on the horizon with the war situation in Europe, which will have consequences in terms of fuel prices and demand, but we are convinced that despite this instability, we will see an increase in demand for air transport and we are convinced that TAP will continue to play a leading role in this, giving back to the country the significant investment we made in it,” said Pedro Siza Vieira, who was speaking at the TAP stand at the Lisbon Travel Fair (BTL).

In his speech, the minister highlighted the airline’s “long and troubled history” and its service to Portugal and the Portuguese.

As he pointed out, over its 77 years, TAP has undergone “a great evolution“, establishing itself as a company that ensures a “substantial part” of air transport in the Atlantic market.

Siza Vieira stressed that this is a company “that serves the country and the economy”, ensuring Portugal’s international connectivity.

“If many airlines fly to our country, a large part of what connects Portugal to other continents is offered by TAP, which is constituted as a large company, which pulls the national economy and the other companies, which are its suppliers,” he added.

The economy minister stressed that this justifies the “major investment” that the country has made in TAP, similar to what many states have had to do to support the airline sector “in difficult times”.

Siza Vieira ended his speech by wishing that these were “times of hope, building a future” and the beginning of a new “virtuous cycle” for TAP.

Source: Lusa