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The Government said today that the former private shareholder of TAP did not want to put money in the airline, which led the State to take out a loan of 1.2 billion euros and buy its position.
“We had a partner who didn’t want to put a penny in the airline. We assume that a partner who did not want to spend a single penny could not be responsible for the design of the restructuring plan, ”said the Minister of Infrastructure in Parliament today.
“We assumed that the European Commission was more likely to require partially or fully the conversion of debt into equity, which would make TAP’s majority shareholder state, if not in July then February next year. The question was whether we would wait until February to be the owners of TA or if we would negotiate with David Neeleman so that he would leave in June and not be him ”to design the restructuring plan, according to Pedro Nuno Santos.
Regarding supplementary benefits, the minister said that “Humberto Pedrosa voluntarily abdicated claiming the supplementary benefit, when David Neeleman did not.”
“The complementary payments were 224 million euros. The difference is that Humberto Pedrosa abdicated that right, David Neeleman did not, ”he said.
Questioned by the amount that the Portuguese State paid David Neeleman to buy his participation, Pedro Nuno Santos assured that the businessman “did not receive 55 million euros for his participation.”
“The 55 million were paid for 22.5% of its participation in TAP, 67.5% for economic rights, and the transfer of 55 million euros of ancillary benefits to the State and the cessation of any future litigation”, has saying.
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