the republic logo

Portugal makes second attempt to sell national airline, putting 66 percent stake on sale


LISBON, Portugal — Portugal's government is trying for the second time in two years to sell flag carrier TAP Air Portugal.

The government announced Thursday it intends to sell a 66 percent stake in the airline, with 5 percent of that set aside for its 7,500 staff.

Transport Secretary Sergio Monteiro said the government has received several expressions of interest in the airline, though he gave no details or price estimate for the stake.

TAP flies to 198 destinations, including 104 in Europe and 65 in North and South America. It carried 10.7 million passengers last year and returned a profit of 34 million euros ($42 million). Its debts amounted to 842 million euros.

In 2012, the government postponed TAP's planned privatization after the sole bidder failed to provide required financial guarantees.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)





Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.