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.
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.