Portugal's TAP: Selected investor to take over in 2026, capital injection in 2027
2026-06-29 18:23
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en.Wedoany.com Reported - Portugal's Minister of Infrastructure and Housing, Miguel Pinto Luz, acknowledged that the ongoing renovation works at Lisbon's Portela Airport have incurred a "political cost" for the government, but emphasized that this intervention was imperative given the eight-year decision-making delay by the previous administration.

In an interview with Antena 1 radio, the minister admitted the visual and operational impact of the airport's construction site status and apologized to the public on behalf of the government. He stated that decisions jointly promoted by the Ministry of Infrastructure and the Ministry of Internal Affairs have improved border operations at the airport compared to previous months. In response to criticism from former Prime Minister Passos Coelho regarding the pace of government reforms, Pinto Luz cited the planning of the new Alcochete airport as an example, claiming the project is advancing at an "extremely fast pace."

According to the minister, ANA – Aeroportos de Portugal is strictly adhering to the established timeline and will submit to the state by January 2028 the new airport infrastructure project, the environmental impact assessment, and the economic and financial conditions for executing the project. Regarding the privatization process of TAP Air Portugal, he revealed that the investor selected this September may coordinate with the current management to take over the airline's operations in 2026. However, due to the lengthy approval procedures of European institutions, the actual capital injection is expected to be completed only by the summer of 2027.

In the housing sector, the minister refused to take responsibility for the current state of the industry and pointed out that although the relevant tax package has been enacted, it has not yet taken effect. He dismissed claims that rents would continue to rise, anticipating a "downward curve" or stabilization in rents, and predicted a future decline in real estate sale prices. Pinto Luz emphasized that market improvement depends on increasing construction volume, while criticizing the previous Socialist government for failing to promote public housing construction.

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