PS calls on Montenegro to clarify whether it maintains political trust in Pinto Luso

On Tuesday, the leader of the PS parliament called on the prime minister to clarify whether he has political confidence in Minister Miguel Pinto Luz, who will lead the privatization of TAP, saying that because he was involved in a similar process, he was “shrouded in suspicion.”

Alexandra Leitan responded to reporters in parliament after learning of a report by the Inspectorate General of Finance (IGF) which concluded that David Neeleman’s purchase of TAP was financed by a $226 million loan from Airbus in exchange for the purchase of 53 aircraft from the European planemaker.

“It is urgent that Luis Montenegro comes and says whether Miguel Pinto Luz can continue to lead a process similar to the previous one, which showed that there was no transparency and that it was shrouded in suspicion,” he said.

According to Alexandra Leitao, the same person who in 2015, when he was Secretary of State, “led this process, surrounded by many suspicions, is the same person who is today leading the privatization process of TAP.”

“The Prime Minister urgently needs to come and say whether he still has political confidence in Miguel Pinto Luz, who will lead the TAP privatization process,” he repeated, announcing that he would demand, among other things, that the current Minister of Infrastructure and Housing be heard.

In addition to Miguel Pinto Luz, the PS announced a request for hearings with former Finance Minister Maria Luis Albuquerque, now appointed by the PSD/SDS-PP government as European Commissioner, and former Secretary of State for Infrastructure, Transport and Communications Sergio Monteiro, and intends to discuss the topic at a meeting of the standing committee next week.

Alexandra Leitão stated that “a TAP audit was carried out, the conclusions of which are similar to those of the IGF, and it is the PS government that is referring the matter to the Ministry of State at the end of 2022” – the minister in charge at the time was Pedro Nuno Santos, who also “insisted on the matter in the TAP investigation committee”, refuting criticism from other parties regarding the responsibility of the PS.

According to the parliamentary leader of the PS, a “new fact” of “the greatest seriousness” has now occurred.

“IGF confirms the seriousness of the situation and confirms all these suspicions. If what is being reported in the media is true, then TAP is being acquired by Atlantic Gateway with money from TAP itself as a result of a deal concluded with Airbus,” he said.

Alexandra Leitan stressed that this was done “obviously with the knowledge of the person who was in charge of the process at the time, that is, Miguel Pinto Luz.”

“The person who is now again leading the privatization of TAP is the person who led the privatization of TAP in 2015 with this opacity, with this business, which now all indicates that there are serious suspicions of insufficient transparency in the use of TAP money to buy the company,” he criticized.

The IGF report on TAP said Atlantic Gateway, a consortium of David Neeleman and Humberto Pedrosa, acquired 61% of TAP’s equity, SGPS, “committed to capitalising it through additional capital payments, of which US$226.75 million (MUSD) was made through partner DGN Corporation (DGN) using funds received from Airbus.”

This capitalization amount, he adds, “coincides with the value of the fine (US$226.75 million) that TAP, SA will receive in the event of non-compliance with the agreements for the acquisition of 53 aircraft (A320 and A330), which highlights the possible causal relationship between the acquisition of shares and the capitalization of TAP, SGPS and the contracts signed between TAP, SA and Airbus.”

The government has already forwarded the report to the Ministry of Justice after receiving it last week.

The infrastructure minister, who was state secretary during the 2015 privatisation of TAP, also said after the IGF report came to light that the legitimacy of his current functions lies with the prime minister.