Portugal to assess value of airline TAP ahead of privatisation

Portugal's government has mandated state holding company Parpublica to pick two independent assessors to value airline TAP ahead of its privatisation, which could be launched in July, the finance minister said on Thursday. The state owns 100% of TAP, which is currently restructuring under a Brussels-approved E3.2b rescue plan, and the government is considering an outright or partial sale. "These two independent assessments are mandatory before launching the privatisation. Our expectation is that we can approve the privatisation before the summer, around July," Fernando Medina told reporters. He said the government sought to preserve TAP's "intrinsic value, as a company that generates value from its hub in Lisbon", highlighting also that the airline swung to a profit in 2022, earlier than expected in its restructuring plan. Reuters reported two weeks ago that Lufthansa, Air France-KLM and British Airways owner IAG were laying the groundwork for potential bids for TAP, sounding out local communications agencies and legal advisers.<br/>