In an initial phase at least, the Portuguese State will maintain 34% of shares, which can later (after 2 years) may be sold as well. The Portuguese publication “Publico” announced that, following the settlement between the syndicate and the Government, TAP future buyer will be prevented from firing personnel, while the State remains as one of the shareholders.

A buyer has not yet been found for the national Portuguese airline, as so far official proposals have not been issued. Nevertheless, the German air company Lufthansa and the Spanish group Globalia have manifested interest, as has been the case with Miguel Pais do Amaral, the Portuguese entrepreneur.

It would appear that the Portuguese Government has grand plans for the year 2015. TAP is just one of the several privatizations planned. Several companies providing public transport are also under review. Last year, the Portuguese Government sold the waste management company EGF to SUMA consortium for 150 million Euro.

TAP is Portugal’s national airline. Based in Lisbon Portela Airport, it has been a member of the air alliance Star Alliance since 14th March 2005. It was founded in 1945 as Transportes Aereos Portugueses. Currently owned by the State 100%, TAP is regarded as the safest European airline and the fourth safest in the world. With around 2000 flights a week in 38 countries and 88 destinations, it is also renowned for its affordable prices and high quality services.