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Old February 17th, 2006, 06:52 PM   #1
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Portugual to Privatise TAP in 2007

Portugal to part privatise TAP in 2007

LISBON, Feb 16, 2006 (AFP) - The Portuguese government said Thursday it planned to sell part of newly profitable airline TAP-Portugal in 2007 but would retain control of the business.

The government currently owns all of TAP-Portugal, which posted a net profit of 8.6 million euros (10.2 million dollars) in 2004.

In November TAP-Portugal president Fernando Pinto warned that the company would struggle to post a profit in 2005 despite an increase in passenger numbers because of soaring fuel costs.

TAP-Portugal, a member of the Star Alliance, returned to profit in 2003 after four years of losses, posting a profit of 19.7 million euros owing to a cost-cutting measures and a rise in passenger traffic.

It returned to profit in 2003 after four years in the red, posting a profit of 19.7 million euros owing to a rise in passenger traffic.
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Old February 18th, 2006, 07:55 PM   #2
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TAP Portugal is worth 1.200 million euros.

See how modern and sophisticated are our planes at:

Tap Portugal's fleet
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For the best photos or information on Portugal, visit the PORTUGUESE FORUM.

Last edited by Paulo2004; February 19th, 2006 at 12:48 AM.
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Old February 18th, 2006, 08:55 PM   #3
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Old February 18th, 2006, 09:24 PM   #4
Kai Tak
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Yeah Airbus!
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