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Disclosing TAP's value before the proposals "would harm the State's negotiating position"

Thursday, July 10


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Critical of TAP Privatization


The TAP evaluations , requested by the Government as part of the airline's privatization process, will not be known after proposals are presented for the purchase of 49.9% of the airline, otherwise the Government would be in a"fragile" position in the negotiations.

"We will not reveal information that is sensitive and that would harm the State's negotiating position," said Finance Minister Joaquim Miranda Sarmento in the briefing after the Council of Ministers meeting.

"When companies submit their proposals, they will be informed—and then the government's assessment of the company's value will be made public. Disclosing this information beforehand puts the state in a weak negotiating position and harms taxpayers' interests," he emphasized.

In response to the statement by the Secretary General of the Socialist Party (PS), José Luís Carneiro, who stated that he demanded two conditions, including reimbursement to Portuguese taxpayers of the more than 3 billion euros invested by the State in TAP during the pandemic, the Finance Minister stated that we must"be rigorous" and "look at the facts".

" For 49.9% of TAP to be worth 3.2 billion means it would be worth 6.4 billion. Air France/KLM, which has six times more planes and carries six times more passengers, and is listed on the stock exchange, is worth 6 billion. TAP would have to be worth twice as much. It seems to me that the reality of the facts does not match that statement", he responded.

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