Portugal’s national airline boss urges state to keep stake after sell-off
The CE of Portugal’s national airline TAP has called on the government to maintain a stake in the flag carrier as he expects its planned sell-off to start in earnest within months. Luís Rodrigues also wants to bring in non-aviation investors to ease competition concerns amid growing unease in Brussels over the prospect of an industry dominated by a handful of the region’s big airline groups. The Portuguese government put TAP up for sale last year, opening the way for more airline consolidation in Europe, and a potential bidding war involving the EU’s major carriers. The new centre-right minority government, which was elected in March, said on the campaign trail it wanted to sell 100 per cent of the airline. But Rodrigues stressed the state should keep a stake in the carrier, particularly given Portugal’s dependence on tourism. “My recommendation would be for the Portuguese government to maintain a position there, to be part of the whole development process,” he said. “Just to make sure that if actors change, nobody will come in with a different agenda,” he added, pointing as an example the need to serve Portugal’s autonomous islands, Madeira and the Azores. I think some time we may be ready for a 100% sale, but let’s take that step by step.” Prime Minister Luís Montenegro said during the election campaign that a 100%t stake sale should come with safeguards to protect Portugal’s strategic interests, such as maintaining Lisbon as a hub airport. The previous government said it wanted to sell more than 50% of the company but less than 100% and keep a stake in the hands of the state. Europe’s three big airline groups IAG, Air France-KLM and Lufthansa, which own a range of subsidiaries and want to expand further, have expressed an interest in TAP amid a sharp rise in dealmaking across the sector. The Portuguese airline offers strong links to Brazil and the lucrative South American market for companies that do not have a foothold there, as well as a way into Africa through its routes to the Portuguese-speaking countries of Angola and Mozambique.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-05-22/star/portugal2019s-national-airline-boss-urges-state-to-keep-stake-after-sell-off
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Portugal’s national airline boss urges state to keep stake after sell-off
The CE of Portugal’s national airline TAP has called on the government to maintain a stake in the flag carrier as he expects its planned sell-off to start in earnest within months. Luís Rodrigues also wants to bring in non-aviation investors to ease competition concerns amid growing unease in Brussels over the prospect of an industry dominated by a handful of the region’s big airline groups. The Portuguese government put TAP up for sale last year, opening the way for more airline consolidation in Europe, and a potential bidding war involving the EU’s major carriers. The new centre-right minority government, which was elected in March, said on the campaign trail it wanted to sell 100 per cent of the airline. But Rodrigues stressed the state should keep a stake in the carrier, particularly given Portugal’s dependence on tourism. “My recommendation would be for the Portuguese government to maintain a position there, to be part of the whole development process,” he said. “Just to make sure that if actors change, nobody will come in with a different agenda,” he added, pointing as an example the need to serve Portugal’s autonomous islands, Madeira and the Azores. I think some time we may be ready for a 100% sale, but let’s take that step by step.” Prime Minister Luís Montenegro said during the election campaign that a 100%t stake sale should come with safeguards to protect Portugal’s strategic interests, such as maintaining Lisbon as a hub airport. The previous government said it wanted to sell more than 50% of the company but less than 100% and keep a stake in the hands of the state. Europe’s three big airline groups IAG, Air France-KLM and Lufthansa, which own a range of subsidiaries and want to expand further, have expressed an interest in TAP amid a sharp rise in dealmaking across the sector. The Portuguese airline offers strong links to Brazil and the lucrative South American market for companies that do not have a foothold there, as well as a way into Africa through its routes to the Portuguese-speaking countries of Angola and Mozambique.<br/>
