Portugal is starting the first step of selling 49% of TAP, the national airline, to private investors. Of this, 5% is set aside for employees, and up to 44. 9% can be bought by one or more investors. This is part of a bigger plan to bring TAP back into private ownership, but the government has set some important conditions.
Prime Minister Luís Montenegro said during a press conference that the government has approved the reprivatization of TAP.
He emphasized that the Lisbon hub, which is a key part of the airline's operations, must not be sold. This hub is very important for using Portugal’s airport system, both the ones that already exist and the ones that will be built in the future.
The government is accepting offers from several investors.
The evaluation will look at technical, financial, and strategic factors. More information about how this process will work will be shared during a meeting with officials.
Montenegro warned that if no deal fits the country’s plans, the privatization might be stopped or canceled without giving any money back.
He also pointed out that past spending on TAP did not help the people of Portugal and that it's important to avoid more money problems.
The government wants the privatization to be fair, financially safe, and in the best interests of the country.
More details, like the schedule and what investors need to meet, are expected soon.
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