Can state airline under Fernando Pinto do no wrong? For the 5th year running the carrier has made money. Last year the net profit was €34 million, €10 million more than in 2012.
TAP’s boss Fernando Pinto said today that wants the interminable delay of the airline’s privatisation to be over "as soon as possible" but reiterated that this move “is not a matter of survival for the company.”
Pinto said that being State airline in Europe is very complex because you can not receive any injection of capital which, in the case of the Portuguese company would improve the growth rate and financial results.
When asked if he believes that the privatisation of TAP will actually happen this year, Fernando Pinto said "I'm not sure of anything…the only thing I can say is that in the interim the company has improved.”
The privatisation of the air carrier was suspended in December 2012 but popped up in the State Budget for 2014.
The government states that it "continues to monitor market conditions in order to re-launch the privatisation of TAP as soon as the conditions for its success are met."
