Latest news with #TAPSA
Bloomberg
10-07-2025
- Business
- Bloomberg
Portugal Kicks Off Plan to Sell 49.9% Stake in Flag Carrier TAP
Portugal plans to sell a 49.9% stake in TAP SA, kicking off another attempt to privatize Europe's largest wholly state-owned airline. Of the stake being sold, 5% will be for TAP workers, Prime Minister Luis Montenegro said at a press conference in Lisbon on Thursday.
Yahoo
07-07-2025
- Business
- Yahoo
Portugal Finance Minister on Trade, Tariffs, TAP
Portuguese Finance Minister Joaquim Miranda Sarmento discusses trade negotiations between the European Union and the US ahead of the July 9 deadline. "Tariffs will reduce economic growth both on the US and Europe," he tells Bloomberg's Francine Lacqua. "We do expect that at the end it's possible to have an agreement with very low tariffs," he adds. Sarmento also talks about airline TAP SA and foreign investment in Portugal. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
13-03-2025
- Business
- Bloomberg
Portugal to Hold Snap Election on May 18 After Government Ousted
Portugal will face an early election on May 18, its third in just three years, after parliament toppled Prime Minister Luis Montenegro's center-right minority government in a confidence vote. The collapse may delay some key decisions, including a plan to privatize state-owned airline TAP SA this year and investments in infrastructure. Montenegro's administration, which took office less than a year ago, also aimed to increase defense spending like other European nations.
Yahoo
07-03-2025
- Business
- Yahoo
Portugal's Sale of TAP Airline Bogged Down by Political Crisis
(Bloomberg) -- Portugal's plan to sell a stake in flagship airline TAP SA is likely to be delayed for several months as a political crisis barrels toward snap elections, according to people familiar with the matter. Trump Administration Plans to Eliminate Dozens of Housing Offices NJ College to Merge With State School After Financial Stress Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' How Upzoning in Cambridge Broke the YIMBY Mold NYC's Finances Are Sinking With Gauge Falling to 11-Year Low Prime Minister Luis Montenegro's minority government on Thursday called for a confidence vote — a contest it's likely to lose after opposition parties vowed to reject the motion. Defeat in the parliamentary vote would lead to Montenegro's dismissal and early elections expected in May. This would put his government in a caretaker role, deciding only on urgent matters that don't include the sale of TAP, said the people, who asked not to be named discussing contingencies. The sale process would then be delayed for several months until a new government is in place, they said. Montenegro's administration was due to start a privatization process in March that could result in the sale of at least 49% of TAP, Bloomberg News reported last month. The plan to sell less than half the company was aimed at sidestepping political opposition. The government had targeted a conclusion of the sale by the end of this year or in 2026, a person familiar with the plan said then. A spokeswoman at the Finance Ministry, which oversees the privatization of TAP, declined to comment on the sale. A representative of TAP wasn't immediately available to comment. TAP is Europe's biggest provider of air links to Brazil, making it an attractive acquisition even though it's been a drain on public finances since it lacks scale for consistent profits. The Portuguese airline is led by Chief Executive Officer Luis Rodrigues and carried 16 million passengers last year. The region's three major network carriers, Air France-KLM, Deutsche Lufthansa AG and British Airways owner IAG SA, have all publicly expressed interest in TAP. The confidence vote is expected to take place on March 11, leading to early elections in May if the government loses, Portuguese President Marcelo Rebelo de Sousa said this week. Snack Makers Are Removing Fake Colors From Processed Foods An All-American Finance Empire Drew Billions—and a Regulator's Attention The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Greenland Voters Weigh Their Election's Most Important Issue: Trump ©2025 Bloomberg L.P.
Bloomberg
01-03-2025
- Business
- Bloomberg
Air France-KLM Plans to Bid for Stake in Portugal's TAP Airline
Air France-KLM said it plans to participate in the privatization process of Portugal's state-owned airline TAP SA, calling the country a 'strategic market' for the Paris-based carrier. 'Air France-KLM stands ready to present its candidacy as part of the TAP privatization process,' Chief Executive Officer Ben Smith said in a statement on Friday. TAP is 'an emblematic company which has built a powerful hub in Lisbon that is open to the world.'
