Retaining Lisbon as a hub and independence will be conditions of sale for TAP

The Portuguese government has made it clear to any potential airline group interested in buying TAP that it will retain a Golden Share in the airline to “secure the strategic interests of the country”.

And the minister of Finances, Fernando Medina told a commission of inquiry into the way TAP has been managed in recent years, that among the conditions of sale is retaining Lisbon airport as a hub for Europe, South America and Africa, and a large measure of independence as a business.
The Government is to approve a decree-law around the conditions for which the airline is to be privatised. “It is evident that fundamental criteria are of a strategic nature for the country” and which “give priority to the role TAP has as an important driver for the economic growth of the country”, he said.
And that means “retaining Lisbon as a hub, the airline keeping its (management) autonomy, and having a project that will develop the company and its expansion”, which are “the key conditions before any others”, said the minister.
The minister also said that that the hiring of consultants would require the in-existence of conflicts of interest regarding services that have been provided. The evaluation and selection of the consultant to oversee the sale conditions will be made by the umbrella company which manages Portugal’s public companies, Parpública.

Image: Lusa- Miguel A. Lopes.