Portugal puts national airline TAP up for sale (2024)

FAQs

Is TAP airline being sold? ›

A TAP Air Portugal passenger aircraft taxis to the runway at Lisbon Airport, Portugal. Portugal's government reaffirmed it plans to privatize state-owned airline TAP SA, adding that the terms of the sale are still to be defined.

David Neeleman, co-owner of TAP between privatisation in 2015 and renationalisation in 2020, also the founder of jetBlue, WestJet and Azul. Miguel Antunes Frasquilho, Chairman of TAP since 2017 until March 2023.

Based in Lisbon, TAP Air Portugal (TAP) is the national airline of Portugal. The carrier operates a domestic and regional network of services within Portugal and Europe as well as international services to North America, South America and Africa.

The airline also operates its own branded lounge at the Lisbon, Portugal, airport. According to the airline rating site Skytrax, TAP Air Portugal is certified as a three-star airline. This means that it's fair to average based on a variety of factors, including in-flight entertainment, cleanliness, seats and staff.

LISBON, May 10 (Reuters) - Portuguese airline TAP posted a wider first-quarter net loss of 72 million euros ($77.64 million) on Friday as higher wage costs offset revenue growth. The state-owned airline had reported a net loss of 57.4 million euros a year ago.

It was last privatised in 2015 and nationalised in 2020 when the state became the owner of 72.5% of its capital. At the time, TAP was valued at €244.4 million. Last year, the carrier, which is being restructured under a Brussels-approved bailout, broke out a four-year streak of losses with a €65.6 million profit.

TAP implements a modernisation programme . Among other measures, the name of the company changes: “Transportes Aéreos Portugueses” is now “TAP Air Portugal”, which is easier to recognise internationally.

Airlineratings.com's rating system uses a scale of one to seven stars, with seven being the highest rating, and TAP gets seven stars out of seven in the flight safety chapter and six stars out of seven in the evaluation of the product it offers to Customers.

JetBlue Airways this week is expanding codeshare partnership with TAP Air Portugal, covering additional 6 routes beyond Lisbon, including domestic routes within Portugal. Following codeshare service to commence on 05JUL24.

Why are TAP flights so cheap? ›

Like most airlines in the “budget” class, TAP Portugal's tickets are relatively inexpensive. They make their money on “extras” such as selecting your seat or checking a bag. TAP has a tiered ticketing system, which isn't uncommon. The difference is the number of tiers.

TAP Portugal allows one free carry-on meeting size and weight restrictions. Fees for checked bags depend on your destination, route and time of year. Exceeding size or weight limits incurs extra fees.

Boarding. TAP are known to be strict about measuring and weighing your carry-on bag so do stay within the limits outlined, as some passengers report having to pay additional fees when overweight.

The average Airline Pilot base salary at TAP Portugal is €54K per year. The average additional pay is €0 per year, which could include cash bonus, stock, commission, profit sharing or tips. How was this calculated? How accurate is an average base pay range of €38K-€128K/yr?

Portugal's government wants to sell at least 51% of the state-owned airline TAP to develop the national aviation sector, Finance Minister Fernando Medina announced on Thursday.

A number of major airlines have declared bankruptcy and have either ceased operations, or reorganized under bankruptcy protection. Airlines, like any business, are susceptible to market fluctuations and economic difficulties. The economic structure of the airline industry may contribute to airline bankruptcies as well.

As a result of the agreements reached between the state and the private shareholders of TAP, the company is now once again controlled by the state, with Parpublica holding 72.5 per cent, Pedrosa holding 22.5 per cent and the employees of the company continuing to hold five per cent.