January 29, 2015 4:00 AM ET


Company Overview of TAP-Transportes Aereos Portugueses, SGPS, S.A.

Company Overview

TAP-Transportes Aereos Portugueses, SGPS, S.A. provides passenger, cargo, and mail transportation services. It operates a fleet of Airbus aircraft to various destinations in Africa, North America, South America, Latin America, and Europe. TAP-Transportes Aereos Portugueses, SGPS, S.A. was formerly known as TAP Air Portugal S.A. and changed its name to TAP-Transportes Aereos Portugueses, SGPS, S.A. in March 2005. The company was founded in 1945 and is based in Lisbon, Portugal. TAP-Transportes Aereos Portugueses, SGPS, S.A. operates as a subsidiary of PARPÚBLICA - Participações Públicas, SGPS, S.A.

Aeroporto de Lisboa

Ed. 25 - R/C Dir.

Lisbon,  1704-801


Founded in 1945


351 70 720 5700


351 21 841 6572

Key Executives for TAP-Transportes Aereos Portugueses, SGPS, S.A.

Chairman of Executive Board and Chief Executive Officer
Age: 65
Engineering Director
International Relations and Alliances Manager
Compensation as of Fiscal Year 2014.

TAP-Transportes Aereos Portugueses, SGPS, S.A. Key Developments

TAP Employees Demand For Terms Of TAP's Sale

Employees of TAP-Transportes Aereos Portugueses, SGPS, S.A. demanded for access to the terms of TAP's sale as part of its privatization process. In a letter directed to the Portuguese Minister of Economy Antonio Pires de Lima, the employees said they wanted access to the contract documents in order to "be informed about the whole process of TAP's privatization," according to local media. The employees also complained they did not receive the documents of the terms in 2012, when the government decided to stall the sale because the sole bidder didn't meet necessary banking requirements on time.

Transportes Aereos Portugueses' Sale To Reportedly Start In February 2015

The privatization of TAP-Transportes Aereos Portugueses, SGPS, S.A. is expected to officially start in February 2015, Mergermarket reported, citing several sources familiar with the matter. Council of Ministers is expected to approve the deal's rules at its meeting, a government insider told Mergermarket, followed by a pre-marketing stage and then the sale. According to two sources, Citigroup Inc is acting as financial adviser while Vieira de Almeida is acting as legal advisor to the Portuguese government. Potential investors include two consortia including N+1 Group and Globalia Corporación Empresarial S.A. and Barraqueiro Transportes, S.A., Miguel Pais do Amaral and Frank Lorenzo.

Portuguese Government Seeks To Privatize TAP

The Portuguese government said on December 16, 2014 that it would stick to its privatization plan for TAP-Transportes Aereos Portugueses, SGPS, S.A. after talks with the unions failed to convince them to call off a four-day strike set for the height of the holiday season. Reuters reported, State Transport Secretary Sergio Monteiro told reporters that after three days of talks, the unions had rejected proposals to work on more employee-friendly privatization terms and had demanded the privatization process be suspended as the key condition for calling off the December 27, 2014-December 30, 2014 strike. "The government profoundly regrets this decision by the unions and reaffirms the importance of TAP continuing to fly in this critical period, as not flying will be very damaging. We can only hope that the unions could revise their position", Monteiro said. "The privatization is the only way to guarantee that TAP continues to exist, that it grows, that it adds routes and planes. We believe that there is a national, political and social consensus for the privatization to go ahead," Monteiro said.

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