LISBON (Reuters) – Portugal’s government sealed a final deal with private shareholders of ailing flag carrier TAP to take a controlling stake in the airline while avoiding nationalisation, ministers said in a press conference on Thursday.
Finance Minister Joao Leao said the government will increase it stake in TAP from to 72.5% from the current 50%.
“Fortunately, we avoided the nationalisation of TAP,” Infrastructure Minister Pedro Nuno Santos said.
(Reporting by Catarina Demony and Sergio Goncalves, Editing by Chris Reese)
