The Minister of Infrastructure and Housing guaranteed this Tuesday that the privatization of TAP “will not be done at any cost”, stressing the objective of “returning to the Portuguese” the 3.2 billion euros injected by the State into the airline.
“The objective is to privatize TAP, but not at any cost. It is necessary to guarantee the strategic routes, the hub in Lisbon, the headquarters in Lisbon, and the investment capacity in the future. It is a strategic company for Portugal”, said Miguel Pinto Luz, on the sidelines of the inauguration of a residential complex, in Vila do Conde.
The official confirmed that he has participated in meetings with potential interested parties in the purchase of TAP, such as Air France-KLM, IAG (British Airways) and the German Lufthansa, and that the executive’s intention is to close this process “by the end of 2025 “.
“The intention is to reach 100% privatization, but we have to listen to the market. We have to value the company’s assets and maximize the proceeds from the sale, with a strategy to return to the Portuguese the R$ 3.2 billion that were injected by the taxpayers”, stated Miguel Pinto Luz.
The Minister of Infrastructure considered that the country “has to look responsibly at this value (3.2 billion euros)”, but, at the same time, ensure certain premises.
“It is necessary to guarantee the strategic routes, the hub in Lisbon, the headquarters in Lisbon, and the capacity to invest in the company in the future. TAP’s value lies in its human capital, then the routes to North and South America are an asset of TAP that we cannot sell at any price”, he highlighted.
Asked about the stake positions in the company that potentially interested groups intend to stay in, Miguel Pinto Luz said that there are several alternatives on the table.
“Some are more interested in a path to reach a majority position, others are available to start in a minority position, others want a majority position. Let’s do this reflection to find the best solution”, guaranteed the Minister of Infrastructure and Housing.
Source: www.jornaldenegocios.pt
