The diploma guarantees the inclusion of this sale to "an investor of scale" in the world of aviation that has yet to be chosen.
This choice highlighted by the Minister of Finance, involves achieving priorities such as "the growth of TAP and the national hub", "ensuring investment and employment in high-value activities in the aviation sector" and ensuring the "growth of operations point-to-point" that take advantage of existing structures at the national level. Another of the conditions is, "naturally", the price.
Once this diploma is approved, the next step is to choose the advisors who will advise the Government in this sale process and in dialogue with potential investors. In terms of scheduling, Fernando Medina points to "the end of this year or at the beginning of next year at the latest" as the deadline to present and approve the specifications for this operation in the Council of Ministers. "Then, it will define more finely the implementation and consideration of strategic value."
Fernando Medina also highlighted what the Government does not intend for this operation. "We do not intend to attract what will be pure financial investments that will seek to enter TAP to sell it later", totally or partially, "and remove the strategic value for the Country".
What has not yet been defined is also the concrete percentage that the Government wants to sell to the airline. "It is not yet defined, today, whether it will be 51, 60, 80 or even as the Prime Minister has already assumed 100%." This will only be done "later in the process" based on what the Executive considers "essential to ensure the objectives defined in the decree approved by the Council of Ministers".
Thus, 51% is the minimum percentage for the sale of TAP, and there is a right to reserve 5% that can be acquired by workers.