The economic and financial reinforcement of TAP assesses the capitalisation plan and the conditions to implement it, according to the TAP sale specifications published on the government’s website on Tuesday.
The government said that “the maintenance of the integrity, business identity and autonomy of TAP, namely preserving the TAP brand and its association with Portugal and ensuring that the headquarters and real management of the group should continue to be based in Portugal”, without giving any lengths of time for these safeguards.
However, an agreement signed last Friday with nine TAP unions stipulated a period of “at least 10 years” to keep the headquarters and management in Portugal, along with the hub and the flag-carrier status.
The potential bidders are to be assessed on their technical experience and management in the aviation sector, their reputation and financial capability.