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HomeEconomyPresident defends state...

President defends state involvement after privatization

TAP President Luis Rodriguez, in an interview with the Financial Times published on Tuesday, said the state should retain a stake in the airline after privatization and that investors should be attracted from outside the aviation sector.

“My recommendation would be for the Portuguese government to maintain its position and be part of the whole development process,” the TAP leader told a British newspaper.

Luis Rodrigues explained that this ensures that “if the actors change, no one will come with a different agenda,” citing as an example the need to serve the autonomous regions of Madeira and the Azores.

TAP’s president, who took office about a year ago, also said investors from outside the aviation sector should be attracted to overcome possible concerns about competition from the European Commission in airline consolidation.

“I think that at some point we may be ready for a 100 percent sale, but we will do it in stages,” he emphasized.

Three of Europe’s largest aviation groups – Air France-KLM, Lufthansa and IAG – showed interest in TAP’s business after the previous government announced on September 28 its intention to sell at least 51% of TAP’s capital, reserving up to 5%. workers, and the Council of Ministers wants to approve privatization specifications by the end of last year or “at the latest” early 2024.

The executive, led by António Costa, hoped to complete the operation in the first half of this year, but did not count on the dissolution of parliament and the calling of early legislative elections in March, which brought victory to the Democratic Alliance (PSD, SDS). -PP E PPM).

Speaking to reporters in London to mark the 75th anniversary of the Lisbon-London air service last week, Luis Rodriguez expressed confidence in a strong financial result for the year, despite losses in the first quarter. , which he attributed to an increase in the airline’s payroll.

TAP reported a loss of €71.9 million in the first quarter of the year, up from a negative net result of €57.4 million recorded in the same period last year.

In 2023, the airline recorded a “record” profit of €177.3 million.

IAG was the only one of the three European aviation groups potentially interested in privatizing TAP, which improved its first-quarter results with a loss of four million euros, while Air France-KLM and Lufthansa worsened losses to 480 million and 734 million euros. .negative accordingly.

Author: Lusa
Source: CM Jornal

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