The Minister of Infrastructure, João Galamba, defended on Thursday that the reprivatization of TAP is a decision for the country, the economy and national sovereignty and guaranteed that it will not be a damaging process like that of 2015.
“Contrary to what appears from the PCP’s own request, the decision to reprivatize TAP is in reality a decision for the country, for the country’s economy, for national sovereignty in light of the airline’s strategic position ”, defended João Galamba, who is heard in the parliamentary committee on Economy, Public Works, Spatial Planning and Housing, on the announcement of the privatization of TAP, following a mandatory request from the PCP.
The communists consider the sale of the airline’s majority capital as “a crime against the country’s economy and national sovereignty.”
The Minister of Infrastructure also guaranteed that the reprivatization process now underway “will not resemble the damaging process of 2015, behind closed doors”.
João Galamba also said that the idea that the state injection of 3,200 million euros into the airline, after the difficulties exacerbated by the Covid-19 pandemic, is false is related to the increase in public participation agreed in 2016, when the PS government partially rolled back. the privatization by the PSD/CDS-PP.
“At no point has this government had any fixation on the nationalization of the company,” the government official stressed, adding that “even if TAP were 100% private in 2020, it would still have to be bailed out by the state ”, because private shareholders had no capital to invest in the company.
Joao Galamba He also emphasized that TAP’s true value will be enhanced by the choice of location for the new airport.
The government announced on September 28 its intention to sell at least 51% of TAP’s capital, with a maximum of 5% reserved for employees, and aims to approve this in the Council of Ministers by the end of the year, or “at the latest Privatization specifications were drawn up in early 2024, with the hope of completing the operation in the first half of next year.
During a press conference, the Minister of Finance, Fernando Medina, and the Minister of Infrastructure, João Galamba, presented the central strategic objectives of the sale of TAP, including the maintenance and growth of the ‘hub’ (airport serving as a distribution center). center for passengers), the growth of TAP, the investments and employment that the new investor can bring to Portugal in high-quality activities in the aviation sector, the best use of the national airport network, valuing and expanding point-to-point activities, in particular at Porto Airport, and the price and value offered for the acquisition of the company’s shares.
According to the cabinet, the concrete alienation will depend on the consultation process with stakeholders.
The government has started choosing advisers to assist the state in the operation.
Source: DN
