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Portugal’s TAP Air Sees Uncertain Market Driving Investor Search

  • CEO Ourmieres-Widener says backer would strengthen foundations
  • EU required firm to slim down after $2.7 billion state bailout
Christine Ourmieres-Widener
Christine Ourmieres-WidenerPhotographer: Jose Sarmento Matos/Bloomberg

Portugal’s state-owned airline TAP SA said a new investor would put it on a more solid footing as it pushes ahead with a restructuring program amid higher fuel costs and increasing geopolitical uncertainty.

“It’s a very difficult market,” Chief Executive Officer Christine Ourmieres-Widener said in an interview. “Fuel costs are increasing. We could have wars, we could have pandemics, so being part of a larger group of course gives more foundation to any airline. But it should be the right partner.”