That's True , “in some sort of partnership or ownership”, Air France KLM has confirmed its interest in TAP . At the press conference to present the 2022 quarterly results, the executive president of the carrier, Ben Smith, revealed that TAP Airlines is still not far away could be “an option”.
The group is “very familiar with the Iberian Peninsula” and TAP could be “another option”, said the executive member , whose company is in full recovery mode , showing the results of Q3 of 2022.
The group has reported revenues of 8.1 billion euros in the third quarter, that exceeded 2019 levels by 503 million. Operating results were 1.02 billion euros with an operating margin of 12.6%, also above from 2019 levels. Net debt fell to 2.3 billion from end-2021 levels.
The Portuguese Government's plan is to sell TAP's capital in the next 12 months, said the prime minister at the end of September. Earlier this month, in Parliament, the minister of tutelage, Pedro Nuno Santos, revealed that the privatization process of the carrier had not yet started, but assured that it would be “decided in time and in the way that best defends the national interest”.
Air France KLM “will definitely commit itself on a formal basis” if there is a possibility, said the official in a response to journalists about his interest in the Portuguese carrier, which in turn should present accounts next week. TAP had positive operating results in the first half of 2022, “a telling sign that the restructuring plan is being carried out effectively”, Minister Pedro Nuno Santos said in Parliament.
It was always clear to us [Government] that, in such a highly globalized and competitive market, TAP would not be able to survive, in the medium term, alone. The integration of TAP into a group would create important synergies and bring resilience to face the volatility so characteristic of aviation. This may even be the only way to ensure the viability of a strategic company for the country", said the minister.
