TAP sale: “sale price least important consideration”

 In Companies, News, TAP

Portugal’s Finances minister, Fernando Medina says that the sale price of State-owned airline TAP is the “least important” consideration out of the five priorities that have been identified by the government.

In an interview with the news source ECO, to be published in November, Fernando Medina says that the sale aims to “ensure the strategic objectives that the Portuguese State has defined for the airline’s privatisation”.
The minister says that the goals are simple: 1) the growth of the company; 2) Ensure the preservation and growth of the national (Lisbon) hub; 3) Its capacity to attract aviation investment to Portugal; 4) The development of point-to-point links, using several national airports that have capacity, and are being underused; and 5) The price.
As to the possibility of the government seeking to set the asking price at €3.2Bn (most consultants don’t think it is worth more than just over €1Bn) — the amount that the Portuguese State injected into the company as part of the restructuring process. Instead, the minister said it would be unfair for the potential buyers to discuss sale amounts publicly.