Today, the Government approved in the Council of Ministers (CM) the diploma that frames the privatization process of TAP, at a time when interested parties are beginning to be profiled.
Last week in parliament, Prime Minister António Costa raised the possibility, among different scenarios, of privatizing all of TAP’s capital, although he indicated that the amount had not yet been defined and would depend on the partner chosen.
In his opening speech in the debate, António Costa announced that the government will approve the law that will establish the framework for TAP’s privatization process at today’s Council of Ministers.
On Wednesday, the CEO of the International Airlines Group (IAG), Luis Gallego, expressed the holding company’s interest in the conditions of TAP’s privatization, considering that “it would be something interesting” for the group.
“We are always open to having big companies, big brands in our portfolio and, to be honest, we want to see the conditions of the privatization of TAP, because I think it would be something interesting for us,” said Gallego during a speech at the World Aviation Festival in Lisbon.
Emirates’ president, Tim Clark, ruled out any interest in buying TAP, the terms of which should be known today, and predicted a “bidding war” between the major European aviation groups.
“Of course [the big European aviation groups] will want TAP like hell. Like hell!” […] The bidding war will begin. It’s a great hub in the southwest for these big players, it has access to very interesting international routes and it has a very good European network,” defended Tim Clark, in an interview with Lusa, Expresso and Eco, on the sidelines of the same event, where he dismissed the interest of the United Arab Emirates airline in buying the Portuguese carrier.
The CEO and Chairman of the Board of Directors of TAP, Luís Rodrigues, said he was “a great supporter of the privatization” of the airline, believing that the process “will go well”.
“I think it will go well. I’m a great supporter of privatization, there’s no doubt about that,” added Luís Rodrigues, at the event taking place at FIL in Lisbon until Thursday.
TAP is currently in the hands of the Portuguese state, following the approval of the company’s restructuring plan, which allowed for support of 3.2 billion euros.
