Portugal Unveils Conditions for TAP Sale, Including Growth Plan
TAP carried 16 million passengers last year, a 1.6% increase from 2023.
Photographer: Jose Sarmento Matos/BloombergPortugal set its conditions for the sale of TAP SA, the government’s latest key step before formally inviting offers for a stake in Europe’s largest wholly state-owned airline.
Bidders must be airlines, or groups led by airlines, with annual revenue above €5 billion ($5.9 billion) in at least one of the past three years, the government said in a statement Friday. Authorities will evaluate each bidder’s strategic growth plan for TAP, the price offered and commitments to expand the airline’s fleet.