TAP’s privatisation is another step closer to take-off as Portugal’s competitions authority has ruled that it cannot see any conflicts of interest in deal.
The fact that one of the buyers – the boss of Azul airlines – runs a similar passenger and cargo transporting business is irrelevant, says the authority, as the two businesses operate from different locations.
It was the response expected – particularly by the Portuguese government which reiterated last month how the airline was hemorrhaging money and in “urgent need” of investment (click here).
Consortium Atlantic Gateway, shared by Brazilian airline mogul David Neeleman and Portuguese transports boss Humberto Pedroso – has pledged a €800 million investment in TAP and major expansion to new markets.
Meantime, the final say-so rests with the ANAC, civil aviation authority which Económico website reports “should be ready by the middle of October”.