Former Deputy Prime Minister Paulo Portas says that if TAP is re-nationalised by the Socialist Party it will be a permanent threat to the taxpayer.
The leader of the CDS-PP, said it sends out the wrong signal to impose a political ideology on the TAP ownership issue and argued that without privatisation the company will always face threats to its future.
"I think it's the wrong signal, both internally and externally, to impose an ideology on TAP," said the centrist party leader, who said the state as owner would end up paying salaries and buying planes.
Portas said we need to talk with "honesty and transparency" about TAP, stressing that the most important thing is "to safeguard the viability of TAP and to recognise the relevance it has for Portugal, for its communities and for the strategic role that our country can play in Europe's relationship with Africa and Latin America."
Portas clearly has fogotten the last minute deal in the sale negotiations when the state stepped in to guarantee TAP’s bank loans.
‘Honesty and transparency’ also were in short supply while the previous government steamrolled the deal through.
By guaranteeing the TAP loans, the outgoing Finance Minister ensured that TAP would remain a long-term threat to the public accounts even under the majority ownership of Gateway.
The treasury received just €10 million for the airline. The new owners expect TAP to be worth €1.3 billion by 2020.
Comments
So what can Gateway do differently now that could not have been done by the TAP management in the last 20 years and which, if innovative, cannot be duplicated in a week by the cheapo's?