The Council of Ministers has today revealed the latest government plan for the privatisation of TAP, Portugal’s trouble-torn national airline.
Transport secretary Sérgio Monteiro said the deal involved selling 66% of the airline – 61% to investors and 5% to TAP’s own employees.
The government will retain the right to sell the remaining 34% within two years to the purchasing company/ companies or individuals on the basis of how well they perform after taking charge.
This is this government’s second attempt to off-load TAP which itself is in a state of near-crisis, with flights constantly being farmed out to other companies, and staff at all levels in states of unrest.
Lusa news agency reports that there are a number of potential purchasers on the horizon: Air Europa, a Spanish company; Portuguese businessmen Miguel Pais do Amaral with airline mogul Frank Lorenzo; Brazilian businessman David Neeleman and Bolivian mogul GérmanEfromovich – the only contender in the first attempt to sell the airline.
