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Suspended operations on 1/4/20 due to COVID-19. Resumed limited services shortly thereafter. Atlantic Gateway (David Neeleman) 22.5% share purchased in mid-2020 by the Portuguese government (announced 3/7/20), thus increasing the government share to 72.5%. Offer for a minority interest from Lufthansa received in 12/20. Fully nationalized (announced 8/21). Privatization project rejected in 10/23 by the presudent of Portugal.
TAP Portugal
TP
TAP
Portugal
Lisbon
2005-2017
Put up for sale by the Portuguese government in 5/11 as part of the country's €78b rescue package by the EU and IMF; candidate bidders then expected to be LatAm (LAN/TAM), British AW/IAG or Lufthansa; sale process re-launched 2/8/12 but only one offer received from Synergy Group, process halted on 20/12/12; re-launched for partial privatization at the end of 2014. Atlantic Gateway (a group led by David Neeleman, owner of Azul, Brazil; and Humberto Pedrosa, owner of the Barraqueiro Group) designated as the winning bidder with a planned 61% stake; purchase approved on 2/10/15 by Portuguese competition authority and completed in early 11/15 for only 45% of shares. 23.7% acquired by HNA Group (Hainan Airlines) in 11/15. Portuguese government share increased from 39% to 50% in 2/16. Additional investment ($90m) made in 3/16 by Azul. 7% purchased in 5/16 by HNA Group (now 30.7%) from Atlantic Gateway; stake re-sold in 3/19 to Atlantic Gateway and Azul, Brazil. Renamed back on 14/9/17 to TAP Air Portugal.
TAP Air Portugal
TP
TAP
Portugal
Lisbon
1979-2005
Was to be privatized in 1993, plan cancelled. Became member of Qualiflyer Group until 2002 when alliance was discontinued. 34% stake intended to be acquired by Swissair in 2000, plans cancelled in 2001. Joined Star Alliance partnership in 2004 (effective 14/3/05). Renamed TAP Portugal on 1/2/2005.
TAP Air Portugal
TP
TAP
Portugal
Lisbon
1979-2005
Was to be privatized in 1993, plan cancelled. Became member of Qualiflyer Group until 2002 when alliance was discontinued. 34% stake intended to be acquired by Swissair in 2000, plans cancelled in 2001. Joined Star Alliance partnership in 2004 (effective 14/3/05). Renamed TAP Portugal on 1/2/2005.
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