Market conditions will determine sale of TAP-Air Portugal to private investors

24 May 2013

The privatisation of Portuguese flagship airline TAP-Air Portugal will only take place when market conditions are right for it, the secretary of State for Transport said in Leipzig, Germany Wednesday, noting that it may be possible in the second half of the year.

“The market conditions are what will determine when the process will begin, as we hope that this second attempt will have a different result from the first, which the government cancelled,” Sérgio Monteiro told Portuguese newspaper Lusa on the sidelines of the International Transport Forum.

The secretary of State said that there was no deadline to launch the privatisation that had been agreed with the mission supervising Portugal’s financial bailout process and added that officials from the international Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission understood why the process had been cancelled in December 2012.

After saying he was convinced that the issue would now be resolved in the second half of the year, Monteiro added that meetings were being held and regular contacts made with financial advisors and parties potentially interested in the Portuguese airline. (macauhub)