TAP Portugal and Espirito Santo International signed the contract for TAP's acquisition of 99.81% of PGA Portugalia Airlines. Purchase price was "some €140 million," according to a statement, and thus higher than the price indicated by TAP CEO Fernando Pinto last week (ATWOnline, Oct. 1). TAP also is purchasing PGA's 6% holding in the Groundforce handling company for €4 million. The transaction is subject to approval from the Portuguese competition authority. "This is a strategic ...

Subscribe to Access this Entire Article

"Printer-friendly" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.