The Portuguese government has put state-owned airline Tap on sale, reportedly attracting the interest of major market players such as British Airways’ parent IAG and Germany’s Lufthansa.
Tap will be sold to important market players, the Portuguese government said
Finance minister Fernando Medina said late on Thursday (28 September) Portugal’s cabinet had approved the sale of at least 51% of the company, effectively privatising the airline, with Tap employees sharing 5%.
According to media reports, Medina indicated bidders would need to be significant players in the aviation sector and not just financial investors. “We are not going to privatise Tap simply with the highest bidder,” Medina said.
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