Galamba says TAP results offer good prospects for privatization

Infrastructure Minister João Galamba said on Tuesday that TAP’s results, which showed record profits of 203.5 million euros through September, were “frankly encouraging” and offered good prospects for privatization.

“The results are frankly encouraging and show that after 2022 with historical results, in 2023 all indications are that it will be even better and this is obviously a good prospect for privatization. This means that we have a solid company, in growth, in sustainable development, and that is always good news,” said João Galamba, speaking to reporters on the sidelines of a ceremony that marked the beginning of the transfer of commercial aviation from Humberto Delgado Airport to the municipal airfield of Cascais in Tire.

TAP recorded record profits of 203.5 million euros in the first nine months of the year and 180.5 million euros in the third quarter, according to information released by the airline on Tuesday.

Asked whether these results made it difficult to explain to the Portuguese the need to privatize the airline, João Galamba dismissed the idea and noted that “it simply means that the investment the Portuguese have made in TAP is paying off.”

Regarding the new airport, the government official assured that the completion date of the independent technical commission (ITI) to study the location will remain unchanged, “just in time” for the outcome of the TAR privatization process.

The CTI is due to submit a final report at the end of the year or early January at the latest, and João Galamba said the government would then make a decision “quickly”.

According to the Minister of Infrastructure, although some measures are being taken to improve the operation of Lisbon Airport, namely through the migration of official aviation to Cascais, the construction of a new airport still makes sense.

“Humberto Delgado Airport will last for many years to come and it is important that we consider measures like these. […] use and optimize other airport infrastructures in the country while we do not have new infrastructure,” he said.

Last week, the newspaper Diário da República published an order establishing a working group whose purpose is to determine the schedule of works and certifications necessary for Cascais Airport to begin to take over all business aviation at Lisbon Airport.

On the same day, on the sidelines of the GreenPort Congress & Cruise in Lisbon, the minister said that there was interest from airlines developing electric aircraft ideal for short-haul routes to use Portuguese airfields. with public service routes – Vila Real, Bragança, Viseu, Cascais and Portimão – for testing, and an order is being prepared to certify domestic airfields to receive electric aircraft.

Responding on this occasion to a question about the transfer of the Figo Maduro military area from Lisbon airport, João Galamba said that this measure, which also aims to improve the operation of Humberto Delgado Airport, will entail changes in the concession contract with ANA/Vinci, which will carried out by the negotiating commission.

When asked where the military operation currently taking place in Figo Maduro would be transferred, João Galamba referred the question to the Ministry of National Defense.