Air France-KLM is interested
in Portuguese airline TAP
By
30 October 2022
The Air
France-KLM group is interested in taking a stake in the Portuguese company TAP.
At the press conference to present the results of the group, CEO Ben Smith said
his company wanted “partnership or acquisition if the conditions are right“.
According to
Smith, the merger of the companies is essential for Air France-KLM. “We have been
looking for opportunities on the Iberian Peninsula for many years,” said the
CEO.
Portuguese
Infrastructure Minister Pedro Nuno Santos has previously indicated that TAP
must merge with a major airline to remain viable. Prime Minister António Costa
revealed, at the end of September, that the Executive’s plan is to sell TAP’s
capital in the next 12 months, even though the State Budget proposal for 2023
does not contain anything under the privatisation heading.
The
Portuguese company, which was re-nationalised in 2020, suffered a loss of 1.6
billion euros last year and the government provided more than 2.5 billion euros
in support during the corona crisis.
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