Portugal’s President Has No Objection, In Principle, To Privatising The Country’s TAP Airline

Image of a Portuguese TAP plane taking off.

Image of a Portuguese TAP plane taking off. Credit: Catarina Madureira/Creative Commons Attribution 2.0

IF it was ‘the best solution’ in economic and financial terms and depending on the conditions, then Portugal’s President has no objections in principle to the privatisation of TAP.

Speaking with journalists on Thursday, September 21, when asked his opinion on this hypothesis, Marcelo Rebelo de Sousa told them he realised that it was: ‘ a hypothesis opened by the Government, that is, that it could go as far as total privatisation’.

‘I also realised what I had already said several times, that there are more interested parties than I thought, which means that it is an interesting business. It’s not just the classics, but there are others. It’s a good sign’, the President considered.

The President was speaking with journalists in New York

In response to being asked whether or not he had any objection to a possible total privatisation of TAP, Marcelo Rebelo de Sousa declared: ‘If it is economically, financially, from a Portuguese point of view, the best solution, it is the best solution’.

He added: ‘It will be said, but the State must have instruments of intervention. It is possible to have privatisation with instruments of intervention. Therefore, it depends on the conditions of privatisation’.

‘Any State is careful to guarantee minimum monitoring and control conditions’, the head of state continued. However, he questioned whether: ‘this is compatible with full privatisation? It may or may not be. We will see the conditions’, he concluded.

Marcelo Rebelo de Sousa spoke with the press while paying a visit to a Portuguese canned food store that recently opened in New York’s Times Square. He pointed out that it was: ‘an example of what Portugal has been over the years, which is the taste for risk’.

The President arrived in the United States of America on Sunday night, to participate in the general debate of the 78th session of the General Assembly of the United Nations (UN), and will return to Portugal on the evening of Friday 22.

António Costa raised the TAP hypothesis in parliament

Speaking in parliament last Tuesday 19, the Portuguese Prime Minister, António Costa raised the hypothesis, among different scenarios, of privatising the entire capital of TAP. He stopped short though of indicating that the amount has not yet been defined and will depend on the chosen partner.

‘We are not going to sell to anyone private. We will only privatise and sell part, or all, of the capital, taking into account the defence of the interests of the company, Portugal and the Portuguese”, said Costa, as reported by cmjornal.pt.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com