TAP says it's preparing for an IPO
TAP said it’s preparing for an initial public offering. The carrier, part-owned by airline tycoon David Neeleman, is readying itself for a sale but can’t be sure when that might be, CE Antonoaldo Neves said Friday. ““It’s very hard to determine the timing,” he said. Neves declined to specify how much of TAP might be sold off, while adding that it’s normal for companies to offer 15 to 30% of their shares in a flotation. TAP plans to lift its annual passenger count to 20m within 5 years from about 16m now as it adds 70 new planes to expand its network and save on fuel. The carrier posted a loss of E118m (US$133m) last year from a profit of E21m in 2017 as it booked restructuring costs, signed union deals and saw its expansion held back by delays at Airbus. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-03-25/star/tap-says-its-preparing-for-an-ipo
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TAP says it's preparing for an IPO
TAP said it’s preparing for an initial public offering. The carrier, part-owned by airline tycoon David Neeleman, is readying itself for a sale but can’t be sure when that might be, CE Antonoaldo Neves said Friday. ““It’s very hard to determine the timing,” he said. Neves declined to specify how much of TAP might be sold off, while adding that it’s normal for companies to offer 15 to 30% of their shares in a flotation. TAP plans to lift its annual passenger count to 20m within 5 years from about 16m now as it adds 70 new planes to expand its network and save on fuel. The carrier posted a loss of E118m (US$133m) last year from a profit of E21m in 2017 as it booked restructuring costs, signed union deals and saw its expansion held back by delays at Airbus. <br/>
