TAP Portugal ready for 2011 privatization in ATW 2010 Nov 25
TAP Portugal said its privatization process could start next year. CEO Fernando Pinto stated at the ALTA meeting in Panama City that privatizing the carrier "is part of a [government] plan and this process could start in 2011."
TAP enjoys high load factors on its long-haul routes, especially to South America and Africa, "but the high fuel price spoils everything," Pinto stated. Nevertheless, TAP operates up to 80 weekly flights to Brazil.
In order to privatize, an outside strategic investor may be necessary. Asked if TAM/LAN Airlines prospective parent company LATAM Airlines Group mayhave an interest in investing in TAP Portugal, TAM President Libano Miranda Barroso said that after the merger is completed, "we are open for everything. Nothing is impossible."
Pinto said that the average European market is not growing, necessitating TP's focus on long-haul services, which generate 50% of its revenue. He said there would be no further growth in TP's Brazil flight capacity at this time.
so the question remains, who´s going to buy TAP?
- Iberia/British
- Latam
- Lufthansa
- TAAG/Sonangol