Finance: Privatization news in Portugal

Parties interested in TAP submit initial proposals as the sector faces a crisis

Lufthansa wants to “expand” Lisbon hub and grow in Porto: accepts minority stake in TAP but wants management control

“I hope the sale of TAP is not a second edition of Novo Banco”

Agostinho Miranda, lawyer and president of ProPública, classifies the terms of the merger between Galp and Moeve as a “disaster”. He also considers the privatizations of EDP and REN carried out by Passos Coelho to be an “error”.

Pinto Luz hearing regarding TAP approved unanimously

The request from Chega was approved by the Infrastructure Committee. The date for Miguel Pinto Luz's hearing is yet to be set.

The sale of TAP and the loss of Portuguese sovereignty

An analysis of the implications of privatising TAP Air Portugal, arguing that the government's decision to sell control to Lufthansa prioritises short-term financial gain over long-term strategic interests. The text questions the wisdom of relinquishing state control after significant public investment, highlighting the risks of private interests diverging from national needs and the potential loss of influence over essential air routes and economic autonomy.

Paulo Portas savages Trump's Russia policy: “Either he is a headless chicken or he has a relationship with Moscow that we are unaware of”

On “Global”, Paulo Portas accused Donald Trump of favouring Vladimir Putin without receiving anything in return and warned of the distrust he is creating among NATO allies. The commentator linked the White House's decisions to the fuel crisis and the US elections. He also praised the privatisation of TAP, which he considers to have been “well done”.

TAP: 'Restructuring plan was worth it and made sense'

Miguel Frasquilho, former president of TAP, speaks of a very positive process with advantages for everyone: Lufthansa, TAP, and the State. The decision depends on Brussels, but a 'no' is not guaranteed here.

The problem with the news about TAP is that it ruins the propaganda

By Carlos Rodrigues

Government hopes to launch in January the sale of 5% of TAP's capital reserved for employees

The Government announced on Wednesday the selection of Lufthansa for the partial privatisation of TAP, with a proposal of 1.201 billion euros for up to 49.9% of the capital, including the 5% portion reserved for workers and the planned financial adjustments.

Government hopes to be in a position to launch in January the public offering of 5% of TAP's capital reserved for workers

The Government expects to launch the public offering (IPO) of the 5% stake in TAP reserved for employees in early January, following the airline's privatisation process. In an interview, Minister of Infrastructure and Housing Miguel Pinto Luz confirmed that the decree-law for the sale of up to 49.9% of the airline's capital is to be signed by the end of the year. While the government encourages employee participation, Lufthansa has committed to acquiring any remaining shares if workers do not take up the offer. The minister also noted that potential competition concerns from the European Commission regarding Lufthansa's entry have been factored into the German group's proposal.

Lufthansa Wins €1.2 Billion TAP Air Portugal Deal, Beating Air France-KLM

Rus Tourism News18 Oct

Portugal Airline Privatization

Bluefield Daily Telegraph18 Oct

Does the privatisation of TAP come with an airport in the suitcase?

The sale of half of the airline brings with it the promise of a new runway. Furthermore, the accumulation of waste on the streets is being used as a pretext to point the finger at the Volta system.

How far will the PS go to keep the State on board at TAP

Carneiro avoids committing to a second phase of privatisation, but the party's new wording is less restrictive than before. The issue is causing internal resistance. Pedro Nuno Santos is against it.

Lufthansa Purchases Stake in TAP Air Portugal

Travel Radar16 Oct

TAP sale. "Pedro Nuno Santos' intention was to take revenge on those who criticised him and take credit away from the Government"

Pedro Santos Guerreiro, executive director of CNN Portugal, analysed on Central CNN the main issues surrounding the sale of part of TAP to Lufthansa and the statements made by Pedro Nuno Santos to CNN Portugal on the subject.

Lufthansa to pay deposit of up to 30 million for TAP privatization

Lufthansa is required to pay a deposit of up to 30 million euros for the acquisition of TAP, following a resolution published this Friday in the Diário da República, which formalizes the German group's selection for the partial privatization of the Portuguese airline. The document also stipulates that the German group must provide a bank guarantee to secure the remaining payment, with the Government responsible for setting the deadlines. The deposit amount follows a July directive setting the initial payment at 2.5% of the offered value for the shares, under the 5% maximum limit. Given the reference price of 1.025 billion euros for 44.9% of TAP's capital, the deposit will be approximately 25.6 million euros, potentially reaching 30 million euros when considering the total proposal of 1.201 billion euros. The government expects the deal to be finalized by the end of this year, with the overall operation slated for completion by early 2028.

PCP questions Brussels on implications for TAP following Lufthansa's entry

MEP spoke about the possibility of imposing new restrictions on activity and size.

Lufthansa will have to pay a deposit of up to 30 million euros for the acquisition of TAP

A resolution published in the Diário da República formalises the selection of the German group for the partial privatisation of the Portuguese airline.

Lufthansa must pay a deposit of up to 30 million for the acquisition of TAP

Lufthansa will have to make an initial payment of 2.5% of the amount offered for TAP to the State this year, in addition to providing bank guarantees. This determination is included in the Council of Ministers' Resolution that selects the German group to acquire up to 49.9% of the airline. The tender specifications for the privatisation stipulated...

TAP: selling and staying is best

The privatization of TAP should be total: holding 5% of an aviation colossus is much more attractive than keeping 51% of TAP.

Lufthansa in talks for full ownership of TAP Air Portugal

PAX News15 Oct

Q&A: What does Lufthansa gain from TAP and how does the State expect to recover the invested money?

Air France-KLM also submitted a proposal to purchase TAP, but the German group's financial offer was superior and presented less uncertainty.

Seguro believes that the potential full privatisation of TAP requires consensus and calm, rational debate

On Wednesday, the Government admitted the full privatisation of TAP by 2028.

Reversing the sale of TAP would be unacceptable, says Miguel Pinto Luz

The Minister of Infrastructure believes that the privatisation of TAP, in which Lufthansa emerged victorious, is immune to potential changes in government, and argues that reversing it is unlikely. In an interview with Expresso, he maintains that the Milan hub does not threaten Lisbon.

Lufthansa in talks for full TAP takeover as Lisbon seeks opposition support

marketscreener.com15 Oct

Azores Airlines: Disclosing competitors may lead to losses

The decision not to reveal the competitors until December 9th aims to protect their integrity and increase the chances of success. The sale of at least 75% of the company is expected.

SATA argues that disclosing Azores Airlines bidders would lead to 'losses'

The chairman of SATA stated this Thursday that disclosing the five companies bidding for the privatisation of Azores Airlines would lead to losses that the aviation group 'cannot risk facing' at this stage of the process. Tiago Santos told the Lusa agency that while they recognise the interest in the names, they are convinced that disclosure now would be detrimental to the process. The SATA board has invited the five bidders to submit binding offers by 9 December, the date at which they promised to release the names of the candidates, arguing this will be the 'appropriate time' once the consortia are fully committed to the acquisition.

Luís Montenegro wants to proceed with the full sale of TAP Air Portugal