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Tag Archives: TAP

TAP enters into private ownership by sale of its 61% stakes

LISBON: The 70-year long history of the Portuguese flagship carrier TAP changed on Tuesday when the government signed the contract of sale for 61% of the company to the consortium Gateway which had emerged victorious from the privatisation tender process. Speaking at the signing, the Minister of Finance, Maria Luís Albuquerque, described the sale as the only viable alternative. “Taking ... Read More »

TAP ruling by next week two proposals presented to purchase TAP

LISBON: State Company Parpública is set to present its findings by next week, at the latest, with regard to the two proposals presented to purchase TAP. Speaking earlier this week in Coimbra, Prime Minister Pedro Passos Coelho said a final evaluation was expected either by the end of this week or early next week, after which the Council of Ministers ... Read More »

TAP ruling by next week two proposals presented to purchase TAP

LISBON: State Company Parpública is set to present its findings by next week, at the latest, with regard to the two proposals presented to purchase TAP. Speaking earlier this week in Coimbra, Prime Minister Pedro Passos Coelho said a final evaluation was expected either by the end of this week or early next week, after which the Council of Ministers ... Read More »

Portugal’s airlines TAP privatisation on hold

LISBON: An injunction against the privatisation of TAP has been accepted by the Lisbon Supreme Administrative Tribunal, which has the direct result of the operation being put on hold indefinitely. The order was issued after an independent complaint was lodged against the national flag carrier’s privatisation, which it argued had been initiated without following correct procedures. The Government has since ... Read More »

Portuguese TAP privatisation immediate cash injection of €325m

LISBON: One proposal for the privatisation of the Portuguese flagship carrier TAP promises immediate cash injection of €325 million, according to business magnate Miguel Pais do Amaral, when describing the bid made by the consortium he leads. In a statement on Tuesday, Pais do Amaral said his consortium named Quifel featured “large scale international financial investors with high levels of ... Read More »

Portuguese TAP privatisation immediate cash injection of €325m

LISBON: One proposal for the privatisation of the Portuguese flagship carrier TAP promises immediate cash injection of €325 million, according to business magnate Miguel Pais do Amaral, when describing the bid made by the consortium he leads. In a statement on Tuesday, Pais do Amaral said his consortium named Quifel featured “large scale international financial investors with high levels of ... Read More »

Portugal’s TAP pilots strike costs over €8.4m within 3 days

LISBON: The Portugal’s government official stated that the effects of the strike by TAP pilots has not been as profound as first anticipated, the company revealed last night that the action had already come at an expense of €8.4 million. After three days of the ten days of the action, an average of around 70 percent of flights have managed ... Read More »

Portugal’s TAP pilot strike costs over €8.4m within 3 days

LISBON: The Portugal’s government official stated that the effects of the strike by TAP pilots has not been as profound as first anticipated, the company revealed last night that the action had already come at an expense of €8.4 million. After three days of the ten days of the action, an average of around 70 percent of flights have managed ... Read More »

Portugal’s TAP to go on 10 days strike from 1st May 2015

LISBON: Following a day of consecutive meetings, pilots from national flag carrier last night confirmed that they are to go ahead with a ten-day strike. TAP pilots to go ahead with strike , The action starts on Friday, and will last until the 10th of May. A court on Monday had ruled that certain flights deemed crucial, such as certain ... Read More »

Portugal’s TAP to go on 10 days strike from 1st May 2015

LISBON: Following a day of consecutive meetings, pilots from national flag carrier last night confirmed that they are to go ahead with a ten-day strike. TAP pilots to go ahead with strike , The action starts on Friday, and will last until the 10th of May. A court on Monday had ruled that certain flights deemed crucial, such as certain ... Read More »

Portugal’s flag carriers TAP losses €85.1m in 2014

LISBON: Portuguese flag carriers group TAP ended 2014 with losses of €85.1 million, a massive €79.2 million more than the €5.9 million seen in 2013, because of poorer air transport earnings, the company said. On the other hand, TAP – Manutenção e Engenharia Brasil recorded a loss of €22.6 million which was some €17.7 million better than the previous year ... Read More »