TAP. Privatization is to be decided “as soon as possible”
improved proposals, interim measures, invoking public interest and loose phrases.
If all goes to plan, later this month the process of privatization of TAP is complete. The Secretary of State for Transportation, Sergio Monteiro, assured yesterday in a brief meeting with journalists is the government’s intention to take a decision on the privatization of TAP “as much as possible depresssa”.
Shortly after I’d say it can not, however, commit to compliance with the initial timetable, as the analysis of the final proposals also depend on the complexity of the same.
Yesterday at the end of the two candidates remaining yet submitted their proposals improved the government of the day, and now it is part to the analysis and the subsequent choice of the winner.
Germán Efromovich, owner of Avianca and repeat the attempt to buy the national airline, said yesterday in a statement sent to newsrooms that its final proposal “goes against the aim of modernization and development of this airline as a reference company “.
The proposal by businessman consisted so far the acquisition of 50 new aircraft to strengthen the TAP fleet, and offer 35 million euros for compahia, which would add 350 million to a market capitalization of TAP in cash and in kind – 100 million in aircraft and 200 million in cash. Inside the sealed envelope that arrived yesterday to the Ministry of Economy will be new jobs, possibly more strategic than financial. It is recalled that in 2012 Germán Efromovich had tried to buy TAP, but the deal fell when the businessman was unable to provide bank guarantees at the time of completion of the transaction.
On the other hand, David Neeleman, who owns the third largest Brazilian company, offering so far 20 million euros to the Portuguese State and between 300 and EUR 350 million to capitalize the company. This capital injection included a renewal of the TAP fleet with 52 aircraft. In a statement released yesterday, Neeleman guarantee that “more than a proposal,” the offer made by the company “is an investment commitment and growth for TAP”. The businessman also said it plans to “continue the legacy of TAP safety and professionalism of all who work there and simultaneously create a financially sound company in the long run, so that everyone feels proud to work in an airline will endure for future generations. ” The owner of Azul Brazilian also stressed that it is “a commitment that Humberto Pedrosa” and himself assume “along with partners before the country, TAP, its employees and its customers.”
Luso-Brazilian giant Having two candidates with Brazilian passport in the pocket means, among other things, that the company TAP is significantly interests the brother country. Avianca Brazil (the Efromovich) actuamente ranks fourth among the largest in Brazil, and flies to 25 destinations. It is integrated into the Colombian group Sinergy, giving you some stability, and intends to continue growing its business and its fleet, despite only having managed to register its first positive annual result in 2012.
Since the young Blue, established in 2008, it is the third largest aerospace company in Brazil and flying to more destinations (105). In 2014 he ended the year with losses of 18.5 million euros and a liability of 1.7 billion euros. Last week the company gave up the third time, to get in exchange, a project that has been delayed consecutively in the last two years.
Buy TAP mean for any of these companies, a giant leap in the approach to the more obvious goal: overcoming the TAM and GOL, market-leading companies in the South American giant
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It is recalled that, in addition to know-how, fleet and of course knowledgeable crew who wins TAP also gets the Maintenance Brazil, former VEM. The aircraft maintenance costs represent up to about 12% of operating costs of an airline, according to data from the “Economic Value”. Now hold a maintenance unit may result in a significant economic asset. Although Brazil Maintenance be the most problematic branch of TAP – generated losses of EUR 41 million last year -., The truth is that it is a valuable asset, now that it’s lean debt
In addition to the TAP, which currently flies to 82 destinations, it is now the foreign company with bases in Brazil and has very competitive routes for Africa. A true delicacy for any of these ambitious companies.
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