“Nationalizing TAP would be a step backwards,” says Humberto Pedrosa

Humberto Pedrosa, who owns 50% of the Atlantic Gateway consortium (TAP’s private shareholder), does not support a new nationalization of the national air carrier. Instead, the businessman is asking for State aid to finance TAP in the short term.

In the interview with Jornal de Negócios, the entrepreneur says this “would be a step backwards,” since he considers that “the contribution of the private shareholders in TAP has been very positive, especially in the company’s modernisation and the renewal of its aircraft fleet.” For this reason, Humberto Pedrosa says there are practical solutions for TAP, which involve “primarily short-term financing” and “there’s a need for help and that help has to come from the State.”

Despite stressing that TAP needs help, the shareholder believes that the company’s problem “is not the management” as it “has grown a lot in recent years” and, in his opinion, “would be on its way to good results in a short time”. The aviation sector has been one of the most affected by the new coronavirus, in this sense the Government is preparing a package of measures for the sector, which includes exemptions from various taxes, tax deferrals and contributions, reveals Jornal Económico.