“Decrees typically do not go through the Assembly of the Republic, but we believe this should. The privatization of TAP, or the decision not to, is too significant an issue not to be debated by the Assembly,” emphasized the parliamentary leader of the Livre party, Isabel Mendes Lopes, in a statement.
Livre, PCP, and BE requested parliamentary assessment today for the government decree-law initiating the privatization of TAP, arguing the process is “inherently disastrous” and deserves “clear rejection.”
Isabel Mendes Lopes asserted that Livre believes TAP “should remain public as it is a vital asset for Portugal and its economy.”
“Not only is it a strong economic driver, but it also generates profit and plays a crucial role in connecting with our diaspora and the world,” she stated.
For the Livre leader, TAP can also be “an essential vehicle for scientific research and collaboration between the business world and scientific inquiry, especially in synthetic fuels or aviation.”
The parliamentary assessment request, endorsed by all deputies from Livre, PCP, and BE, was submitted to the Assembly on the day the decree-law on TAP’s privatization was published in the Diário da República.
The parties emphasized that TAP’s privatization is occurring when the airline is “stabilized, capitalized, financially sound, and well-positioned to meet future challenges.”
“The government’s reference to the ‘first phase’ of TAP’s privatization indicates an ongoing goal to privatize the entire company. This is not a partial privatization; it is full privatization executed in phases,” the document states.
Livre, PCP, and BE noted “major airlines show interest in acquiring TAP not because it is undervalued, but precisely because it holds substantial value” and is “a strategic asset for national economy, sovereignty, and development.”
The review of decree-laws is a legislative oversight tool allowing parliament to evaluate and modify or cease the decree in review, requiring at least ten deputies’ signatures within 30 days following publication in the Diário da República.
Currently, Livre has six deputies, PCP three, and BE one, Mariana Mortágua, enabling the trio’s joint signature to meet the ten-signature threshold needed to request the decree-law’s assessment.
The decree-law initiating the privatization of 49.9% of TAP, now published in the Diário da República, allows private investors to acquire more than 44.9% of the airline by purchasing any unbought shares allocated to workers from a reserved 5%.
This reprivatization, as previously announced by the government, could extend to 49.9% of TAP’s share capital, featuring a direct reference sale of up to 44.9% to a reference investor and up to 5% to the group’s employees.
