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Minister: Portugal does not have a favorite among the 3 airlines interested in TAP

Finance Minister Joaquim Sarmento stated on Tuesday that Portugal does not have a preferred airline among the three major European carriers who have expressed interest in TAP's partial privatisation, which the government will soon relaunch.

He said, on the sidelines a Eurogroup in Brussels, that the "government will announce its decision" about the conditions of the planned sale for less than 50% TAP's Capital.

He told reporters that it was well known that Air France and IAG had expressed interest in the company, and would eventually make a proposal. This is a very positive thing for the country.

He told reporters that the winning proposal would be the best one for the country. "We do not have a preferred partner nor any bias towards A, B, or C," said the minister.

The Portuguese government is keen to keep TAP's Lisbon hub and its main routes to Brazil, Portuguese speaking African countries, the U.S., and other destinations.

When asked if the three major European carriers might lose interest because the government would hold the majority stake, he replied: "These companies, whether they all present proposals or not, have shown an extremely significant interest in TAP. We will see which one, whether it is all of them, will make a proposal based on privatisation conditions."

TAP was long earmarked for privatisation. However, the process had been once again stalled after the centre-right minor government collapsed in march. After a May national election, the coalition was re-elected to power, but it still lacked a majority of parliament members, which could have blocked TAP's sale.

(source: Reuters)