The privatization process for TAP airline “soon” will go to the Council of Ministers, Finance Minister Fernando Medina said on Monday.
“I hope that I will soon be able to present to the Council of Ministers the beginning of the TAP privatization process,” the minister said in a press conference in Madrid, along with Spanish Economy Minister Nadia Calvinho.
Medina said that due to TAP’s “very good performance” – “results well above expectations in terms of compliance with the restructuring plan” – this is “a good moment for the government to evaluate and decide on the progress of the company’s privatization.”
According to the minister, this is the “main conclusion” of the “exploratory work” and the “indicator” of the “pre-market study with potential investors” that TAP has already carried out in order to “accurately assess what kind of investment will be and what.” perspectives” of potential stakeholders in the company.
“The government is doing the preliminary and necessary work to be able to start the TAP privatization process, which we will do as soon as possible, but also with the necessary attention to a process of this magnitude and this requirement,” said Fernando. Medina before announcing his intention to submit the dossier to the Council of Ministers at the earliest.
Fernando Medina was in Madrid this Monday to take part in a conference on the future of European economic and financial policy with Spanish Minister Nadia Calvinho, organized by the Elcano Institute for International and Strategic Studies.
The two ministers then held a bilateral meeting.