The government of Portugal has reiterated that the ongoing privatization of TAP Air Portugal is being driven primarily by strategic national interests rather than financial motivations. Officials emphasized that TAP’s role in the country’s connectivity, tourism, and international presence outweighs its balance sheet when evaluating potential buyers.
TAP SGPS, the state-owned holding company of Portugal’s national airline TAP Air Portugal, has officially defaulted on a bond loan agreement with Azul Linhas Aéreas Brasileiras, the Brazilian airline that has long held a financial stake in TAP. The default was formally recognized during a meeting of debenture holders, convened at the request of Azul and its legal representatives,…
TAP Air Portugal has entered into a wet lease agreement for an Airbus A320, bearing serial number 4384, with Airhub Malta to support increased travel demand during the summer 2025 season. The aircraft will operate flights from Lisbon to key destinations including Paris-Orly, Madrid, and Barcelona.
TAP Air Portugal has announced its financial results for 2024, highlighting a net income of $58.0 million. This performance marks a stable year for the airline, with a modest increase in operating revenues of 0.7%, totaling $4.5 billion.
TAP Air Portugal could be forced to pay up to $300 million after a Supreme Court ruling sided with flight crew members dismissed during the airline’s restructuring plan. The legal decision represents a major financial and operational challenge for the carrier, potentially impacting its recovery strategy and financial stability.
TAP Air Portugal has successfully secured US$210 million in financing, with the debt maturing in 2029 and carrying an interest rate of 4.467%. This strategic financial move is part of TAP’s ongoing efforts to strengthen its capital structure and support its operational and strategic initiatives.
Air France-KLM, the Franco-Dutch airline group, has confirmed its intention to participate in the privatization process of TAP Air Portugal, the Portuguese national carrier. This announcement comes as the Portuguese government moves forward with plans to sell a stake in TAP, aiming to enhance the airline’s competitiveness and financial stability.
Azul believes that the $100 million debt owed by TAP Air Portugal since 2016 will be resolved soon, as both parties have acknowledged the obligation.
IAG (UK) has made a significant commitment to developing a hub in Lisbon if it successfully acquires TAP Air Portugal. This pledge highlights IAG’s intention to enhance the operational capabilities of TAP while strengthening Lisbon’s position as a key aviation hub in Europe. TAP Air Portugal has long been a crucial player in connecting Europe with South America and…
TAP Air Portugal has officially resumed its codeshare partnership with Air India, extending coverage to three services between Europe and Delhi. This renewed agreement strengthens connectivity for travelers between India and Europe, offering seamless travel options and enhanced network integration.
