Portugal could nationalise TAP airline, other companies hit by coronavirus -PM [Reuters]
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Source: Reuters
Portugal could nationalise TAP airline, other companies hit by coronavirus -PM LISBON, April 14 (Reuters) - Portugal may need to nationalise its flag carrier TAP and other companies badly hit by the economic impact of the coronavirus outbreak, Prime Minister Antonio Costa said on Tuesday. TAP was partially privatised in 2015 and the state still holds a 50% stake. “We cannot exclude the need to nationalise TAP or other companies that are absolutely essential for the country. We cannot risk to lose them,” Costa told Portuguese newspaper Observador. “This is a health crisis that is turning into an economic crisis and we can’t let it get worse,” he said. Last month, TAP said it would temporarily lay off around 90% of its employees because of the coronavirus crisis that led to a collapse in demand for travel. Private consortium Atlantic Gateway, led by Brazilian-U.S. airline entrepreneur David Neeleman, has a 45% stake in TAP and TAP employees hold the remaining 5%. Speaking to TVI televis
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