“There is no doubt about the political and economic crime involved in the 2015 TAP privatization scam,” stated Paulo Raimundo today. “It seems there is more than just political and economic crime, and we shall wait and see.”
The communist leader spoke during an event connecting with Salvador Caetano workers in Vila Nova de Gaia, recalling the circumstances surrounding the airline’s privatization.
“Investigate what needs to be investigated because we had already noted that TAP was bought with TAP’s money, its airplanes were purchased with TAP’s assets, and there was no investment from those who supposedly bought TAP,” he declared.
Today, TAP, Grupo Barraqueiro, and Parpública are being searched by the PJ, with several media outlets suggesting alleged crimes in the 2015 privatization.
The Prosecutor General’s Office confirmed in September of last year the receipt of the report from the Inspectorate General of Finance regarding the TAP privatization in 2015 and forwarded the document to the Central Department of Investigation and Penal Action.
The inquiry was opened in February 2023, following a report by Fernando Medina and Pedro Nuno Santos, then Ministers of Finance and Infrastructure and Housing (PS), respectively.
In mid-October 2022, Pedro Nuno Santos disclosed that TAP’s administration had requested an audit suspecting it was paying more for aircraft than competitors and that the Government forwarded the conclusions to the Public Prosecutor’s Office.
One of the most discussed topics in the 2023 Parliamentary Inquiry Committee (CPI) into the Political Oversight of TAP’s Management was the so-called Airbus funds. This deal was made by DGN, led by David Neeleman, with the aircraft manufacturer, annulling a previous lease contract for 12 A350 planes and establishing a new one for acquiring 53 aircraft of a different range.
As part of this deal, Airbus provided equity loans to DGN, amounting to $226.75 million (195.5 million euros at the current rate), to be funneled to TAP through Atlantic Gateway.
During the CPI hearings, deputies frequently questioned witnesses about their knowledge of the operation, given that TAP’s capitalization in 2015 was achieved with the company’s own funds.
The Atlantic Gateway consortium—comprising shareholders David Neeleman and Portuguese businessman Humberto Pedrosa—won the TAP privatization, finalized at the end of the PSD/CDS-PP government’s term. The operation was partially reversed in 2015 by António Costa’s (PS) government.
At that time, the political oversight of TAP was under the responsibility of the current minister Miguel Pinto Luz, then Secretary of State for Infrastructure, Transport, and Communications.
