LISBON (Reuters) – The Portuguese government said on Thursday it had reached an initial agreement with the private shareholders of the flag carrier TAP that would keep it afloat, but warned it would nationalize the airline if the commitments were not followed through.
© Reuters / Regis Duvignau
FILE PHOTO: The first commercial A330neo passenger jet for TAP Air Portugal is seen at the Airbus delivery center in Colomiers, near Toulouse
“There is currently an agreement in principle with the private sector to make intervention in TAP possible,” said cabinet affairs minister Mariana Vieira da Silva. “If this commitment is broken, the cabinet will meet to approve a decree to nationalize TAP.”
The government said it expects the final agreement to be closed in the next few hours.
(Report by Catarina Demony and Sergio Goncalves, Edited by Andrei Khalip)
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