Home / Business / David Neeleman was able to buy TAP without investing a penny

David Neeleman was able to buy TAP without investing a penny

In a sort of spell, David Neeleman led the Airbus company to acquire a stake in 2015 that would become relevant to the purchase of TAP as part of the privatization process initiated and completed by the executives of Pedro Passos Coelho. In practice, with the replacement of the order for 12 A350 aircraft, whose pre-order value had already been paid by the Portuguese company, another 70 million were implemented by another 50 aircraft of the A320 neo and A330 neo. This premium, granted by Airbus, was considered a private investment, that is, Neeleman made omelets with eggs already owned by the national carrier. A source close to the process stated that at the time this situation was still being questioned within the executive, but given the border situation or if this or TAP could lose everything as they had already failed pre-orders and payments The Portuguese state did not the same bargaining power as the Brazilian businessman. Another source adds that even if the state had bargaining power and wanted to carry out this exchange of commands for itself by raising a generous premium for TAP, it would not be possible to arrange a crew for so many airplanes.

Yesterday contacted TAP It could not "comment on the privatization investments made by its shareholders, but the Portuguese Government and Parpública are naturally aware of this" and said that such investments are already "in the final decision of the Court of Auditors have been explained

. "TAP confirms that the company has neither purchased the A350 aircraft nor received compensation from Airbus for sales that could not be achieved," the air carrier continues.

For which SOLapurou had already stated in the original proposal by David Neeleman, that it was intended to exchange the aircraft after the state later made some efforts to determine if Airbus was even available to do such business, as the banking sector and other operators confirmed Advance money would have been some sort of opportunity payment as Airbus had customers for the A350, which would pay more than the value for which TAP had a purchase option ̵

1; SOL could not determine whether Neeleman had done so or not intervening to provide customers with the A350 But there were customers, and besides, the international giant was listening Not to sell on TAP aircraft, in this case the new models, which were not so much in demand, also because they were still in the test phase.

All won with the company's resources and the part Neeleman won came to TAP as a private investment. Atlantic Gateway – owned by David Neeleman, owner of the Brazilian airline Azul, and Humberto Pedrosa, head of Grupo Barraqueiro – paid 354 million for 61%. of the company (of which only 10 million went to the state). Neeleman says he has not taken anything from TAP

In January 2016, Neeleman said in an interview with Visão the sale of the Airbus 350: "I went to Airbus and say that he did not want the A350, because they I did not need a TAP, but I wanted the A330 and A321 LR (Long Range) because they are more profitable, and TAP can fly to Toronto, Boston, New York, and even Chicago at a lower cost with the A321 LRs. "

The answer was directly to the question of whether the sale of A350 slots would have made a profit: "I have not taken anything from TAP, I bring this whole amount with me and can not take away a penny, as long as the bank debt of the TAP are not fully settled Contract I Must Respect. "

Atlantic Gateway yesterday made sure, at the request of SOL, that it will comply with all contractual agreements:" All TAP capitalization obligations arising from the privatization process have been resolved Completely respected on the one hand by David Neeleman and Humberto Pedrosa by the Atlantic Gateway and on the other hand by Azul and Parpública by the drawing of the bond loan. All capitalization commitments have been fulfilled, as has already been explicitly recognized by the Portuguese Government, Parpública and the Court of Auditors.

The consortium also argued that "the amounts included in the capitalization were largely disclosed at the time of privatization"

. And who already had responsibility? Only Pires de Lima

Although the Former Secretary of State Sérgio Monteiro, who was contacted yesterday by SOL, had virtually led the entire process, he transferred all responsibilities to the 20-day executive that completed the sale: "I do not know, I did not obey the final terms of the operation and therefore can not comment on this specific point. I think that there is no way not to invest, not least because the investment commitments I have accepted have been contracted. "

On the other hand, former Minister of Economy Antonio Pires de Lima has a different attitude, even in a rescue of the airline:" I take responsibility for the privatization of TAP in 2015. It has been a goal and a necessity for more than a decade 20 years was recognized. The company was saved. "

Miguel Pinto Luz, who held the post of Secretary of State for Infrastructure at the end of 2015 in the executive, which had been in office for less than a month, said he did not want to comment.

The current board decided that It now has a 50% ownership and obviously additional responsibility, which the Court of Auditors considered "regular" and "effective", even though it did not lead to "the most efficient outcomes": "Public policy makers do not have the consensus, and successive treaty changes have exacerbated States' responsibilities and increased their exposure to the company's adverse eventualities. "

Asked yesterday about the deal concluded with Airbus, neither the Infrastructure Ministry supervised by Pedro Nuno Santos nor Parpública responded until the conclusion of this edition.
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