Portuguese government seeks approval for E460m aid to TAP

Portugal’s government has formally notified the EC of its intent to grant interim support to TAP. The support is designed to guarantee the airline’s liquidity until a restructuring programme is approved. Up to E463m in aid within the scope of the restructuring can be notified, according to the government. The government says the support, if approved, will reduce cash requirements for the year. It adds that the aid will enable a “more immediate” response to TAP’s needs.<br/>