“We argue that the company should remain under public control, thus ensuring the safeguarding of its strategy in the country’s interest, preserving jobs, technical skills resulting from TAP’s activity, and maintaining existing professional capabilities,” emphasized Sintac in a statement sent to the company.
The union believes that the privatization process “could be postponed, as TAP currently demonstrates strong economic and operational conditions,” stressing that “the country needs TAP.”
The government has initiated the process of opening up to 49.9% of TAP’s share capital through a direct sale of up to 44.9% to a reference investor and an allocation of up to 5% of the capital to the group’s employees.
According to the recently published decree-law in the Diário da República, the private investor can acquire more than 44.9% of the company by purchasing what the employees do not buy from the reserved 5%.
