Arab Today, arab today portugal puts 66 stake in tap airline up for sale
Last Updated : GMT 20:42:22
Arab Today, arab today
Arab Today, arab today

Portugal puts 66% stake in TAP airline up for sale

Arab Today, arab today

Arab Today, arab today Portugal puts 66% stake in TAP airline up for sale

Lisbon's Airport
Lisbon - AFP

Portugal's government decided Thursday to make another attempt at privatising TAP, putting 66 percent of the airline up for sale after it flew back into profit and generated renewed investor interest.
"We have the intention of selling 61 percent of the TAP Group's capital directly to one or several investors and reserve 5 percent for employees," junior transport minister Sergio Monteiro said following a cabinet meeting.
Economy Minister Antonio Pires de Lima disclosed in September the government had received approaches from four "credible" bidders and was reconsidering privatising the airline and whether or not keeping a controlling stake.
Portugal has been seeking fresh ways to boost its coffers as the country struggles with tough austerity measures after years of recession sparked by the 2008 global financial crisis.
Among the bidders is South American businessman German Efromovich, owner of the Colombian carrier Avianca, whose 2012 bid for TAP was the only one to meet the initial conditions.
But the Portugese government judged the bank guarantees offered to be insufficient and postponed the sale indefinitely.
In September a consortium formed by American businessman Frank Lorenzo and Portugese entrepreneur Miguel Pais do Amaral also threw its hat into the ring.
US-Brazilian businessman David Neeleman, founder of JetBlue in the United States and Azul in Brazil, is also interested as well as Globalia, the parent company of Air Europa.
TAP boasts the most connections with Brazil among European airlines.
It reported a 42-percent jump in net profit to 34 million euros last year thanks to a record number of passengers after several years of losses.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal puts 66 stake in tap airline up for sale Arab Today, arab today portugal puts 66 stake in tap airline up for sale

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal puts 66 stake in tap airline up for sale Arab Today, arab today portugal puts 66 stake in tap airline up for sale

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday