- TAP Air Portugal fulfilled final commitments under the 2021 restructuring plan.
- The airline completed Cateringpor and SPdH sales in April and May 2026.
- Portuguese state prepares sale of up to 49.9pc of TAP Air Portugal.
- Azul Linhas Aéreas Brasileiras claims €189 million from a 2016 bond.
- Restructuring included operational measures and non-core asset disposals.
TAP Air Portugal completes restructuring plan
TAP Air Portugal has fulfilled the final commitments under its restructuring plan that the European Commission agreed in 2021. The airline completed the sale of its stakes in Cateringpor and SPdH. These transactions took place in April 2026 and May 2026 respectively.
The Portuguese state prepares to sell up to 49.9pc of TAP Air Portugal. A private investor acquires 44.9pc while the airline reserves 5pc for employees. Brazilian carrier Azul Linhas Aéreas Brasileiras challenges the sale and claims full payment of a 2016 bond loan that totals approximately €189 million ($217 million).
TAP Air Portugal sold its 51pc stake in Cateringpor to Gate Gourmet in April 2026. It completed the sale of SPdH in May 2026. The restructuring plan that authorities approved in 2021 included operational and financial measures as well as the disposal of non-core assets.
Daniel Martinez Garbuno shared “TAP is in full compliance with the remaining commitments set out in the European Commission decision of December 21 2021 thereby concluding its restructuring plan.”
