The Prime Minister, Luís Montenegro, said this Monday, the 16th, that the privatization of TAP will not move forward if the airline’s investment in all the country’s airports is not taken into account.
“There will be no privatization [da TAP] if we do not guarantee that our airports, including of course Francisco Sá Carneiro airport, [do Porto]will have the potential, in terms of the company’s activity, that they deserve and that are required in light of the country’s strategic interests”, said the chief executive at the ceremony marking the 80th anniversary of Porto airport.
Montenegro clarified that the requirement and guarantee of use of all airport capacity is “a cornerstone” in the TAP privatization process.
“This was very clear from the beginning, it was very clear in our decision, it was very clear in the legal instruments of this procedure”, he stressed.
The airline’s investment in the airports of Porto, Lisbon, Faro and autonomous regions is a requirement that the Portuguese State will not give up, guaranteed Luís Montenegro.
Non-binding proposals for the privatization of TAP must be submitted to Parpública by April 2 and must include a financial component, such as the price offered for shares and future appreciation mechanisms (‘earn outs’).
Interested parties will also have to present industrial and strategic plans, synergies and guarantees for preserving TAP’s status as an air operator in the European Union.
The specifications provide for the sale of up to 44.9% of TAP’s capital, with 5% reserved for workers, with any unsubscribed participation subject to the future buyer’s right of preference.
At the beginning of the month, Lufthansa confirmed its interest in participating in the TAP privatization process, admitting industrial synergies and the possibility of new investments in Portugal, including the eventual creation of a pilot training school.
Montenegro warns Vinci that it is possible to “do more and faster” at airports
The Prime Minister also defended that Vinci has its most profitable operation in the world in Portugal, which is why it is possible to “do more and faster” at Portuguese airports.
“I have to say, eye to eye, it is possible to do more and it is possible to do it faster. It is possible to do more and faster in Porto, it is possible to do more and faster in Lisbon, it is possible to do more and faster in Faro and also in the autonomous regions”, said Luís Montenegro at the 80th anniversary of Francisco Sá Carneiro Airport, in Maia, district of Porto.
The chief executive, taking advantage of the presence of Vinci’s directors, recalled that Vinci has its most profitable operation in the world in Portugal, without any greater profitability.
“And, therefore, for those who offer your company the possibility of having this result, you cannot expect that we did not loyally demand that the investment correspond precisely to this profitability”, said Montenegro.
The Prime Minister, who was attended by the Minister of Infrastructure, Miguel Pinto Luz, said that he wants the new Lisbon airport to be built as quickly as possible and within the cost space that has already been predetermined.
“In this regard, I want to remind you that with all the contractual instruments that link the Portuguese State to the concessionaire, to Vinci, we really have deadlines and costs to meet and we will not give up on that either, we will not fail to use all the provisions of our contract so that we can have this planning and execution carried out in accordance with the interests of the Portuguese State, the Portuguese people and economic agents”, he pointed out.
But, he added, the construction of the new Lisbon airport must be accompanied by investment in all other airports, namely in Porto, Faro and autonomous regions.
Montenegro stressed that it is necessary to value other airports, while building a new one, for the country to be competitive as a whole.
“Because if we are competitive as a whole, all regions will win. If we let just one or two of them gain dimension and investment momentum, we will harm the global objective and we are not here to accept that”, he stressed.
The Prime Minister highlighted that Portugal is only competitive and makes a difference if there is transversal investment in all infrastructures.
“Because this is how the country uses public resources to pass on the investments it makes in people’s lives”, he concluded.
ANA Aeroportos expects the opening of the new Lisbon airport in mid-2037, or, with optimizations to the schedule to be negotiated with the Government, at the end of 2036.
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