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Will Portugal’s national airline TAP be bought by a Portuguese investor?


Will Portugal’s national airline TAP be bought by a Portuguese investor? portugal news
Will Portugal’s national airline TAP be bought by a Portuguese investor? - Portugal Business News

Portugal news - Will Portugal’s national airline TAP be bought by a Portuguese investor? Portugal’s Secretary of State for Finance has announced that the percentage of Portugal’s national airline, TAP, that will be sold remains secret as well as the purchase value. The only information that is disclosed is that TAP will be privatized within the first six months of 2024.


Portugal’s Government has just disclosed that TAP may be bought by a Portuguese investor, and it is not clear if it would be just a percentage of the national airline. Portugal’s Secretary of State for Finance has however revealed that: Whoever buys TAP will have to be able to strengthen its competitive advantage and to grow the business.


At least three international groups have publicly stated their interest in buying TAP, however there is a new Portuguese buyer in sight. And Portugal’s Government has stated that they will have to take into account Government spending that has already reached more than 3 billion Euros out of taxpayers’ money, and the process will therefore be fully transparent. Moreover, there is a delay in the two independent financial evaluations undertaken by Ernst & Young and Banco Finantia that will only be concluded by the end of August.


In 2022, TAP made nearly 66 million Euros in profits, that represents the first year that the State has a positive financial result, especially since the losses of over one billion Euros in 2021.


The Government’s bill for the privatization of TAP will only be approved by the Council of Ministers after the financial evaluation process is completed. The Portuguese Government has also underlined the fact that there is no urgency to privatize the national airline, since the main goal is to strengthen the strategic role of TAP for the national economy. The privatization process is not intended for decreasing Government debt or for any other urgent need.


Portugal’s Government has stated that taxpayers may rest assured that the privatization of TAP will be in line with the firm belief that the way forward will be to defend the interests of the country’s economy as it is of strategic importance for its future.



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