TAP [TP] privatisation thread
Nov 10, 2012, 11:31 am
#31
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From what I recall, Gérman Efromovich supposedly holds a polish passport (I think CAPA mentioned it). If that option isn't available, they could figure out something via a holding company. Avianca wouldn't have gone for this if they didn't already have a plan on how to address the shareholder issue.
Nov 14, 2012, 9:07 am
#32
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It is a significant hurdle but, again, I do not believe they are walking in blind, making it up as they go. If nothing else, the Portugese government thinks there's a way for this to be done.
Dec 10, 2012, 11:05 am
#33
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Synergy submitted the final proposal to buy TP.
It's said to be around 1.5bio EUR. Government net profit from the operation is said to be around 20mio EUR.
Decision expected on the 20th of Dec.
Government is desperately looking to raise money to comply with Troika (EU/ECB/IMF) Bailout conditions.
This will be a tough one. Sell and make no money but clean the debt of TP. Not selling and lose an opportunity but keeping an asset (!) for future use.
http://centreforaviation.com/news/sy...roposal-193297
GBM
It's said to be around 1.5bio EUR. Government net profit from the operation is said to be around 20mio EUR.
Decision expected on the 20th of Dec.
Government is desperately looking to raise money to comply with Troika (EU/ECB/IMF) Bailout conditions.
This will be a tough one. Sell and make no money but clean the debt of TP. Not selling and lose an opportunity but keeping an asset (!) for future use.
http://centreforaviation.com/news/sy...roposal-193297
GBM
Dec 20, 2012, 2:01 am
#34
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Today is D day for the sale of TAP. The government is supposed to accept or reject the offer from Synergy.
Publico newspaper did a decent interactive overview here [PT only]
Let's see if all these TP threads end up in the Avianca forum.
GBM
Publico newspaper did a decent interactive overview here [PT only]
Let's see if all these TP threads end up in the Avianca forum.
GBM
Dec 20, 2012, 10:54 am
#35
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Dec 21, 2012, 1:29 am
#37
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The news in the Portuguese press today are the intention of selling TAP before the end of 2014 is still valid.
The official statement is that there seems to have been a lack of bank guarantees from the Synergy group. Although the unofficial version is that the government was unhappy at only getting net 35mio EUR for the transaction and workers as well as opposition parties were hammering on this.
The final offer was in the range of 1.5 bio EUR:
35mio net to the government
316 mio for capital investment (So in effect synergy was keeping the money)
> 1 bio to pay for debts
Links here and here [PT only]
I think it should have been sold.
GBM
The official statement is that there seems to have been a lack of bank guarantees from the Synergy group. Although the unofficial version is that the government was unhappy at only getting net 35mio EUR for the transaction and workers as well as opposition parties were hammering on this.
The final offer was in the range of 1.5 bio EUR:
35mio net to the government
316 mio for capital investment (So in effect synergy was keeping the money)
> 1 bio to pay for debts
Links here and here [PT only]
I think it should have been sold.
GBM
Dec 26, 2012, 8:26 am
#39
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it seems that Etihad has its pocket full with a series of acquisition, furthermore wouldn't bet their intervention in what is essentially considered AF/KL backyard. Lufthansa bid appears to me too risky, even for the rather lax european antitrust, plus they are going to a period of restructuring in parts of their group. This leaves IAG and QR, perhaps in a joint venture they may be able to snatch TP from either ST or * lock.
Jan 7, 2013, 1:48 am
#40
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GBM
Mar 12, 2013, 7:48 am
#43
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According to CH-Aviation
Avianca Brasil (O6, Rio de Janeiro Santos Dumont (SDU)) is reportedly in the process of preparing a second bid for Portuguese national carrier TAP Portugal (TP, Lisbon Portela de Sacavem (LIS)) after a first bid had failed in December when the Portuguese government decided not to sell TAP to Avianca Brasil parent Synergy Aerospace. Synergy owner Gérman Efromovich has met with the Brazilian government to get support for a proposed second bid, this time by Avianca Brasil, according to aeroTELEGRAPH and Folha de São Paulo. Synergy Aerospace is the majority shareholder in Avianca-TACA and fully owns Avianca Brasil.
Mar 12, 2013, 4:25 pm
#44
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According to CH-Aviation
Apr 19, 2013, 3:12 am
#45
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Indirectly linked to the TP sale, CAPA did the work for the future owner with this benchmark study on productivity.
The third slide -"European airlines Available Tonne Kilometres (‘000) per employee", seems to paint a picture of too many ground-based employees, similar the to LH comment made (they break it into flying segment and total group)
And the too many employees picture seems to be consistent with the 5th slide - European airlines revenue (EUR) per employee. Worst in class.
GBM
The third slide -"European airlines Available Tonne Kilometres (‘000) per employee", seems to paint a picture of too many ground-based employees, similar the to LH comment made (they break it into flying segment and total group)
And the too many employees picture seems to be consistent with the 5th slide - European airlines revenue (EUR) per employee. Worst in class.
GBM
Last edited by GBM.flights; Apr 19, 2013 at 3:17 am