The Minister of Infrastructure, Miguel Pinto Luz, stated this Friday, November 21st that the expressions of interest from the three largest European aviation groups in the privatization of TAP “were predictable”, due to the financial results achieved by the airline.
“The good and robust results” of the airline demonstrate that TAP “is an attractive company”, said the government official in Vilamoura, in the Algarve.
Speaking on the sidelines of the 24th Congress of the National Association of Public Road Freight Transporters (ANTRAM), Miguel Pinto Luz stated that the Government “sees with satisfaction” the interest of European aviation groups in purchasing the Portuguese air carrier.
So far, formal interest in the privatization of Air France-KLM, Lufthansa and International Airlines Group (IAG) – owner of British Airways and Iberia – has been confirmed.
“The Government is pleased to see what was already predictable, that is, that the three largest European groups presented their intentions to privatize TAP”, he highlighted.
Miguel Pinto Luz declined to comment on the expressions of interest for the purchase of TAP already presented, sending any comments until after the deadline, on Saturday, at 5:00 pm.
“Parpública is monitoring the entire process and until tomorrow at five in the afternoon we will not make any comments”, he highlighted.
The minister assured that the Government will not sell TAP “for nothing”, reiterating that the priority is “to scrupulously comply with the deadlines and ensure total transparency and that the process runs smoothly”.
“TAP is an old soap opera, very nebulous, and we don’t want any of that. We want transparency, dialogue, and parliament will be an entity that will permanently scrutinize the entire process”, he highlighted.
Miguel Pinto Luz stressed that privatization is “inevitable”, warning of the impossibility of new financial injections by the State: “If there is any hiccup, any change in the world economy, we will not be able to inject even one more euro into that company”.
The minister also highlighted that the Government intends to guarantee “a healthy TAP, serving the Portuguese, the PALOP, the strategic routes and the Lisbon hub”.
“That’s what we want and that’s what we’re going to get,” he concluded.
The privatization process foresees the sale of up to 44.9% of TAP’s capital, keeping 5% reserved for workers.