Former Stellantis CEO Eyes Investment in TAP Air Portugal's Privatization

Carlos Tavares' Interest in TAP

Former CEO of automotive giant Stellantis, Carlos Tavares, has expressed his interest in participating in the planned privatization of TAP Air Portugal. Speaking to Expresso, Tavares emphasized that he is not looking for an executive position but is open to joining the company at board level or as an investor.

A Patriotic Appeal

Tavares stated, "What matters is finding the best solution for Portugal," highlighting a specific "patriotic appeal" to investing in TAP, while also acknowledging the current management's efforts in making the airline viable.

Government's Role in Privatization

Despite his interest, Tavares clarified that he has not discussed TAP's privatization with the government, which remains the sole owner of the airline after its nationalization in 2021. Efforts to privatize TAP were previously paused due to concerns about the 2025 state budget, but with its recent approval, a working group is set to analyze the state-owned sector, potentially paving the way for TAP's sale.

Future Steps

Although TAP is not explicitly mentioned in the new budget, discussions have begun regarding which state enterprises may be sold, with findings expected by the end of Q1 2025.

Interest from Major Airline Groups

There is notable interest from major airline groups such as Air France-KLM, IAG International Airlines Group, and Lufthansa Group in acquiring a stake in TAP. The government is exploring options for Portuguese investors, as the opposition is against full denationalization.

Conclusion

Tavares highlighted the importance of a strategic approach to TAP's future, indicating that the government is correct in focusing on long-term viability.