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TAP airlines will be nationalised

TAP airlines will be nationalised

It was a rescue that was expected. While the coronavirus crisis strongly impacted the Portuguese airline TAP, the government of Antonio Costa decided to move forward with the nationalization of the emblematic company. TAP will be nationalized because private shareholders do not accept the conditions imposed by the Portuguese government regarding the loan of 1.2 billion euros to the airline. After losing 100 million euros in 2019 and being hit hard by the covid-19 crisis, the nationalization of TAP is likely to be expensive. Lisbob, the expatriate assistant in Portugal, tells you all about the nationalization of TAP.