The Portuguese government has earmarked a 5% stake in TAP Portugal for staff and is requiring bidders to commit to strengthening the airline’s financial capacity and maintaining its hub operations and brand. The government on January 15 approved a prospectus with conditions for the proposed privatization of its flag carrier, and the official documentation was published Jan. 20 on the government’s website and in the Official Gazette. The privatization will be phased. The first ...

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