Deadline for presentation of offers to buy TAP – Portugal end on 15 May

13 February 2015

Parties interested in the privatisation of Portuguese flagship airline TAP – Portugal must hand in their proposals by 15 May, Portugal’s Secretary of State for Transport, Sergio Monteiro said in the country’s parliament.

“15 May marks the date for submission of proposals [for the acquisition of TAP],” said Monteiro, adding that a website was open to everyone that is potentially interested in TAP, with a view to open, “competition and transparency.”

“We want to give TAP wings to fly, since the company’s restructuring with public funds implies redundancies, reduced routes and fleets,” said the Secretary of State, to justify the government’s decision to move ahead with the sale of the airline.

Monteiro said that by the end of June he also expected to announcer the successful candidate for the TAP privatisation, which will have to invest 300 million euros in the airline.

The Secretary of State explained that the minimum capitalisation value could be provided by delivering new aircraft. (macauhub/PT)