December 19, 2014 5:44 AM ET

Airlines

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

Portugal

Founded in 1945

Phone:

351 70 720 5700

Fax:

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
Member of Executive Board
Member of Executive Board
Age: 65
Compensation as of Fiscal Year 2014.

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

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.

Portugal In Second Attempt To Sell National Carrier

Portugal's government is trying for the second time in two years to sell TAP-Transportes Aereos Portugueses, SGPS, S.A. The government announced it intends to sell a 66% stake in the airline with 5% of that set aside for its 7,500 staff. Transport Secretary Sergio Monteiro said the government has received several expressions of interest in the airline, though he gave no details or price estimate for the stake.

TAP Being Eyed By Investors

Portugal's Economy Minister said his country is planning to sell off 49% stake of TAP-Transportes Aereos Portugueses, SGPS, S.A. by the end of 2014. Avianca Holdings S.A. (BVC:PFAVH), Air Europa Líneas Aéreas, S.A.U., Azul Linhas Aéreas Brasileiras S.A have expressed interest in the sale. Delta Air Lines, Inc. (NYSE:DAL), Virgin Atlantic Ltd., Deutsche Lufthansa Aktiengesellschaft (DB:LHA) and International Consolidated Airlines Group, S.A. (LSE:IAG) have also been interested in TAP-Transportes Aereos Portugueses, SGPS, S.A. as per local press but none of them put forward proposals.

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