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Portugal extends talks to privatise airline / Photo: PATRICIA DE MELO MOREIRA - AFP/File
Portugal extends talks to privatise airline
Portugal's government said Friday it would pursue talks with both Air France-KLM and Lufthansa on privatising a controlling stake in national airline TAP Air Portugal.
Portugal had been expected to announce its choice to take over the airline, but after a government meeting spokesman Antonio Leitao Amaro said the offers submitted by both contenders were very close.
It made sense to pursue further talks to obtain improvements, he added. Following talks that could last several weeks the government will choose one of the two contenders and hold final negotiations.
The government intends to sell up to 49.9 percent of TAP Portugal to a strategic investor, with staff to hold five percent.
TAP, which was renationalised in 2020 to stem losses from the Covid-19 pandemic, is among the few remaining state-owned carriers in Europe.
The airline has around 7,700 employees and a fleet of around 100 Airbus planes.
(C.Young--TAG)
