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The Government approves the diploma for the privatization of TAP next week

The Prime Minister, António Costa, stated this Tuesday, in the debate on Chega’s motion of censure, that next week the debate that will allow progress towards the privatization of TAP will be approved.

The announcement was made by the Prime Minister during the debate on the motion of no confidence presented by Chega. The diploma that will define the model and percentage of sales of TAP’s capital will be approved next week by the Government.

“As the European Commission recognizes, we are implementing the restructuring plan successfully and I can confirm that, next week, we will approve the diploma that establishes the framework for the privatization of TAP, defending the company and the interests of Portugal and the Portuguese” , António Costa announced in parliament.

Previously, Costa had highlighted that “in 2022 TAP not only did not have losses, but also made profits” and that “this year 7.6 million passengers were transported in the first half of the year, already reaching 96% of passengers.” transported. in the pre-pandemic period.

Privatization of TAP. More revenue is not a central objective and there will be sanctions for failure to comply with the public interest

The approval of the diploma by the Council of Ministers follows the company’s independent evaluation process, which began in July. Parpública, a state-owned company that manages stakes, hired the auditor Ernst & Young (EY) and Banco Finantia, a Portuguese investment bank, to carry out two independent evaluations of the company, the preliminary versions of which were delivered to the Government last week, according to al Jornal of Business and Eco.

It is these assessments that will allow the Government to define the model and percentage that it intends to place in the market, with the State being able to maintain a minority position in the company.

Privatization. Banco Finantia and EY will carry out the evaluations for TAP

Among those interested in buying the company are IAG, owner of Iberia, Air France-KLM and the German Lufthansa. The State owns 100% of the capital of TAP after the public aid of 3.2 billion euros granted to the airline after the pandemic.

What is known about the privatization of TAP. Brussels does not require it and it has “gifts” worth a billion for whoever buys it

Source: Observadora

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