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Regulator clears TAP Portugal takeover

Victoria Moores

Thu, 2015-10-08 07:22

Portuguese anti-trust regulator Autoridade da Concorrência (AdC) has given the green light for the Atlantic Gateway consortium to acquire a 61% stake in TAP Portugal.

The clearance takes the Atlantic Gateway consortium, a joint venture (JV) between JetBlue Airways and Azul Brazilian Airlines founder David Neeleman and Portuguese bus company Barranquiro Group, a step closer to finalizing its acquisition of TAP Portugal.

“AdC decided to clear the merger as it considered that the notified transaction would not create significant impediments to effective competition on the identified relevant markets, since none of the acquiring parties are active on the same air routes currently operated by TAP, nor was the risk of elimination of potential competition on the routes to Brazil identified,” AdC said in a statement.

The competition body added that it was notified of the transaction on Aug. 20, after the European Commission considered it was “outside its jurisdiction” under European merger control rules.

A TAP Portugal spokeswoman said the deal now hangs on approval by Portuguese civil aviation authority ANAC. “TAP’s privatization process is expected to be completed soon, but I don’t know exactly when,” she told ATW.

TAP’s other two bidders were Avianca Holdings chairman German Efromovich and Portuguese investor/entrepreneur Miguel Pais do Amaral.

 

Startup Libyan Wings ready to begin operations

Startup Libyan Wings ready to begin operations

by  Alan Dron

Fri, 2015-09-11 14:28

New Libyan carrier   Libyan Wings   plans to launch operations by “the end of next week,” CEO Edgardo Badiali told   ATW   Sept. 11.The airline h...

Startup Libyan Wings ready to begin operations

Startup Libyan Wings ready to begin operations

by  Alan Dron

Fri, 2015-09-11 14:28

New Libyan carrier   Libyan Wings   plans to launch operations by “the end of next week,” CEO Edgardo Badiali told   ATW   Sept. 11.The airline h...

Air China to enter African market in October 29

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MOZAMBIQUE TOURISM RIDE ON S.AFRICA’S VISA RESTRICTIONS

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NAHCO begins full cargo operations at Enugu airport

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African airlines grow in cargo volumes

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70 prophets storm Jerusalem to pray for Nigeria70 prophets storm Jerusalem to pray for Nigeria

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Everything is being put into the task of ensuring that Nigeria remains in peace or regains her peace, eve...

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