Government will press ahead with re-privatization of TAP – Executive Summary

The government will go ahead with the re-privatization of the TAP project during the Legislative Council session. The executive power led by Luis Montenegro included this measure in the program of the executive power, which was already foreseen in the electoral program of the Democratic Alliance.

“Launching the process of privatization of TAP’s capital,” can be read in the program, but without detailing whether the type of privatization will be complete or partial, or in what form or timing.

In the document, the executive body led by Luis Montenegro explains that “the aviation and airport sectors have been dominated in the past decade by paralyzing decisions and decisions: the lack of capacity at Humberto Delgado Airport and the postponement of choosing the best expansion option, as well as the faltering nationalization process at TAP, which leaves the company at a crossroads.” Ways regarding its future.

Therefore, to respond to the challenges of air transport, the government wants, in addition to the re-privatization of the Portuguese airline, to increase the capacity and efficiency of the entire aviation sector and airports, both
On the passenger side, as well as on the freight side (infrastructure, air navigation services, freight and connectivity); Improving cargo and passenger handling conditions at airports
National; Implementing innovative and digital solutions that allow improving the control of entry and exit of passengers and cargo by air, and enhancing the use of infrastructure to meet the current diverse demand.

It is noteworthy that TAP achieved its highest net result ever last year, with profits amounting to 177.3 million euros, while its revenues exceeded 4,000 million euros for the first time. Profits doubled compared to the previous year, in which net profit reached 65.3 million euros. CEO Luis Rodriguez considers that “the good results in 2023 confirm the recovery path that TAP has taken in recent years.”

But the company's profits could have been higher had it not been for the return of the last quarter of the year to a loss with a negative result of 26.2 million, which ended up punishing the company's accounts, which in September achieved a higher net result of 203 million euros. .