TAP sold to Gateway consortium

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By TESTCustomwebLP TESTCustomwebLP June 15, 2015 19:22

TAP sold to Gateway consortium

The Portuguese government has sold its 61% stake in TAP Portugal to the Gateway consortium, a joint venture between JetBlue Airways and Azul Brazilian Airlines founder David Neeleman and Portuguese bus company Barranquiro Group. This is the second time Avianca Holdings chairman German Efromovich has lost a bid for TAP.

The government expects the sale to generate between €354 million and €488 million over a two-year period. It may exit TAP altogether after 2017 and sell its remaining 34% stake in the airline group. The deal needs to be approved by the European Commission.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP June 15, 2015 19:22