Les pilotes de TAP sont en grève depuis hier.
The government is selling a 61 percent controlling stake in TAP now but will retain 34 percent which it can sell in two years. The remaining 5 percent is earmarked for staff.
Transport secretary Sergio Monteiro said the value of the transaction was between 354 million and 488 million euros ($388-548 million), depending on TAP's performance this year. That total includes a 338 million euro capital injection by Gateway in TAP.
TAP is especially attractive to Brazilian investors because of the large amount of slots it holds on flights between Portugal and Brazil. Because of that many Europeans transit through Portugal to fly to Brazil.
The government will receive only 10 million euros immediately and a possible further 140 million euros in two years, depending on future options.
TAP's debts of more than 1 billion euros will be transferred to the new owners. Because of European Union state-aid rules, the government could not inject capital into TAP.
1. Change the company culture to be one more similar to B6 and Azul
2. No layoffs
3. Compete with Ryanair - segment the market better, reduce seat pitch on short-haul (A319/320/321)
4. A350 was changed to A330-900neo, because A350 has higher operating costs and TP doesn't need the range.
5. Cabin: Economy (30-31" pitch), Economy+ (34" pitch) and biz. Skycouch in economy.
6. A321LR - useful for east coast US and northeastern Brazil (it has the range). Very useful in low season.
7. A321LR cabin: 16 layflat biz, 42 E+ (34") 117 Econ (31-32"). Biz seats look like they're staggered.
N.America: +BOS, IAD, ORD,YUL,YYZ, BDL [doesn't Neeleman live there???]
S.America: +JPA, PHB, AJU, more frequencies to existing hubs, cross-polinate with Azul
Europe: "Rationalize markets and increase frequency and strength in key/largest markets"
Africa: "Grow in constrained markets and strength in key/largest markets"