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 ...

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