TAP must dispose of non-core assets by 2025
TAP will have to sell non-core assets in maintenance, restoration and handling activities by the end of 2025, with Portugal overseeing the processes.
“Disposals are to take place until the end of the restructuring period, i.e. December 31, 2025,” sources connected to the process told Lusa.
The issue is one of the remedies imposed by the Community executive so as not to distort European competition with the approval of the restructuring plan of the flagship airline, which is based on the separation of the activities of TAP and Portugal, on the one hand, and the sale of non-EU assets – essential, particularly in maintenance activities in Brazil, and catering and handling.
Questioned by Lusa, an official source in the field of competition of the Community executive, underlines that “these measures are necessary to attenuate the distortions of competition created by the State aids” granted by Portugal, with a view “to buyers yet to be determined as part of the restructuring plan” for activities considered non-essential.
“In general, when an aid measure is approved, it is up to the Member State to ensure that the measure is implemented in accordance with the compatibility conditions included in the Commission decision,” said a source. official in Lusa.