Authorisation given for privatisation of airline TAP – Air Portugal

20 September 2012

The legal diploma for privatisation of Portuguese flagship airline TAP – Air Portugal has been approved by the Portuguese President, thus allowing the schedule of privatisations agreed following the Portuguese financial bailout, the Portuguese press reported.

The Portuguese government will now have to approve the privatisation’s tender document at a Council of Ministers meeting, a move that had initially been set for the end of the first half of this year.

Daily financial newspaper Diário Económico said that businessman Germán Efromovich, owner of Colombian airline Avianca, remained interested in the company, despite Avianca Taca, a company made up of airlines from Colombia and El Salvador announcing that it was not interested in the privatisation process.

There are also two more parties interested in buying TAP, which have made non-binding offers after analysing the informative memorandum that was handed over to around nine companies at the beginning of August, three of which dropped out of the process – British Airways, Spain’s Iberia and Avianca Taca. (macauhub)