The couples of the Portuguese airline TAP who formalize their interest in privatization are those already taken into consideration even before the Portuguese government approved the conditions for selling half of the company. Lufthansa announced on Thursday that it has submitted its formal declaration of interest for the acquisition of 44.9% of the Portuguese airline. It is the second airline to take this step after Air France-KLM, which did so on Wednesday. The deadline for interested parties to submit their declaration of interest expires on Saturday.
In a statement, the German group underlines that, in addition to the initial acquisition of a minority stake, it intends to establish a long-term alliance between the two companies and stresses that they will preserve TAP’s “Portuguese identity”. Lufthansa emphasizes that the position of Lisbon center of the Atlantic would emerge “strengthened” with its landing in the Portuguese company. Furthermore, they recall having invested in a business project for the production of aeronautical components in the Portuguese city of Santa Maria da Feira.
The maintenance of center in Lisbon is one of the priority aspects for the Portuguese government in choosing a partner in TAP. And this is one of the reasons that hinder the options of the IAG group (Iberia and British Airways) if it finally decides to formalize its declaration of interest in TAP, as announced by its CEO, Luis Gallego, in an interview with EL PAÍS, because the Portuguese executive fears that the operation serves to strengthen Madrid and weaken Lisbon.
Gallego acknowledged that IAG has a limited presence in Brazil and that it could be improved thanks to TAP, which holds 25% of the market between Europe and the South American giant. “Our intention would be to develop its presence in every place where it operates and look for new markets for TAP. In terms of airports, Lisbon offers an attractive location in the North Atlantic and towards Africa and Europe, as well as serving the short- and medium-haul traffic that feeds the center“he said.
The government has decided to sell 44.9%, give workers another 5% and keep 51% of the airline in public hands, although the ultimate goal is to leave the company in private hands.
