Latest news and stories about privatization in infrastructure in Portugal for expats and residents.
With the Lufthansa proposal to buy 49.9% of TAP for 1,201 million euros approved, the process still has a long and rocky road ahead until its conclusion, expected in early 2028. The most difficult obstacle will be the DG-Comp, but the Government, which will count on the collaboration of the Germans, has...
As the deadline for non-binding bids for TAP's privatisation arrives, major European airline groups face a shifting economic landscape, with Lufthansa confirming its continued interest despite broader sector challenges.
Lufthansa confirms its intent to submit a proposal for the privatisation of TAP, aiming to expand the Lisbon hub and develop Porto as a secondary hub while seeking eventual management control.
Signatories advocate for an integrated public company managing the infrastructure. The accident in Toledo, which resulted in 68 deaths, added extra weight to the argument against separating operation from track management.
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 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 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.
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...
Sitava stated that it had communicated this position to the two candidates who reached the final phase, Lufthansa and Air France-KLM.
Lufthansa has won the race for TAP and is preparing to acquire nearly half of the airline. In this episode, we explain the details and what is still left to be clarified about the deal.
The Minister of Infrastructure warns that anyone blocking the process is wasting an opportunity for the country. Also, Donald Trump accuses Joe Biden of having caused the war in Ukraine.
FC Porto recorded its second defeat in the Champions League. Gabri Veiga and Samu scored the goals for the 'dragons'. Additionally, Trump accuses Joe Biden of having provoked the war in Ukraine.
The SATA administration has invited five competitors in the privatization of Azores Airlines to submit binding proposals by December 9th, at which point the candidate entities will be disclosed, the Azorean aviation group announced today.
The Minister for Infrastructure has no doubt that the airline is better managed by the private sector
The Minister of Finance stresses that not taking advantage of Lufthansa's offer for 100% of TAP would be a 'historic error'.
On the day the Council of Ministers approved the privatisation of 49.9% of TAP to Lufthansa, and after the Government announced its intention to sell the remaining 50.1% to the same German group, the overseeing minister stated that the creation of a Portuguese supervisory council is already planned to ensure...
The Prime Minister admitted the full privatisation of TAP by 2028.
The Civil Aviation Pilots' Union (SPAC) states that both competitors for the privatisation of TAP, Lufthansa, which was selected, and Air France-KLM are “benchmark” companies and argues that the carrier is in good hands.
The company was selected as the winner with a proposal of 1.201 billion euros for up to 49.9% of the capital
The state will hold five of the nine members of the TAP Board of Directors.
Lufthansa reacted to its victory in the privatisation process with a promise to support TAP's growth, viewing the deal as an opportunity to strengthen the group's position in the South Atlantic. It also expressed a desire to increase its stake in the airline, stating that “previous acquisitions have shown that a majority stake generates additional benefits for all.”
