Portugal presses ahead with TAP Air sale despite soaring fuel costs
Rising Fuel Prices Drive Up Inflation, but Finance Minister Rules Out a Repeat of the 2020 Crisis Triggered by Ukraine War
Soaring costs are squeezing the aviation sector, with jet fuel—used by aircraft—now double its price since the start of the year.
Budget surplus allows for a "calmer" approach to crises, though this year's situation is "more challenging," admits Miranda Sarmento
In an interview with Bloomberg, Joaquim Miranda Sarmento addressed how the crisis could impact the privatization of TAP Air Portugal.
Following reports that IAG—the parent company of British Airways and Iberia—has lost interest in acquiring TAP, the minister expressed confidence that a bid would still materialize.
Despite mounting fuel costs, the government aims to sell up to 49.9% of the Portuguese flag carrier.
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