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Portugal Stands Firm on Maintaining Stake in TAP

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Sheras Fernandes
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Secretary of State for Finance, João Nuno Mendes, addressing the TAP inquiry commission<br>Image Credit: República Portuguesa

The Portuguese government has reiterated its stance against the complete sale of TAP (Portuguese Airline) during the reprivatization process. Secretary of State for Finance, João Nuno Mendes, confirmed on Friday that the government is resolute in maintaining a strategic stake in the airline, in line with Prime Minister António Costa's statements. Mendes emphasized this position while addressing the TAP inquiry commission.

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According to Mendes, the government's understanding is that TAP will not be entirely sold off. He highlighted the importance of retaining a significant ownership share in the airline. During the TAP inquiry commission, Mendes expressed his confidence in the decision-making processes undertaken by the company. He emphasized that he believes the choices made by TAP were consistently in the airline's best interests.

(Read Also: Portugal’s Attorney General Addresses Resource Constraints in Tutti Frutti Corruption Case Investigation)

The reprivatization process of TAP has already been set in motion with the issuance of a resolution by the Council of Ministers. This resolution mandates the completion of two independent assessments before the official commencement of the process. The actual initiation will occur upon the publication of a decree-law, which will incorporate the government's conclusions based on the assessments.

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No Complete Sale of TAP in Reprivatization Process

The Portuguese government remains steadfast in its position against selling the entirety of TAP during the reprivatization process. Secretary of State for Finance, João Nuno Mendes, reiterates the government's commitment to maintaining a strategic stake in the airline, echoing Prime Minister António Costa's statements.

(Read Also: Portugal’s APROSOC Raises Concerns Over Resource Constraints in Rural Firefighting)

Government's Strategic Interest in TAP Affirmed

Secretary of State João Nuno Mendes emphasized the government's decision to retain a significant ownership share in TAP. The government's position ensures a continued presence and influence in the airline's operations as the reprivatization process unfolds

GovernmentInvolvement Reprivatization PortugueseAirline GovernmentStance CorporateStrategy
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