David Neeleman

Portrait for @ericof
by @ericof
2020-07-03T22:30:02+00:00
Transportation • Air Transportation & Traffic, Flying
Ryanair to challenge TAP bailout in courts
Ryanair to challenge TAP bailout in courts
Credit: Marc Najera

Ryanair announced Friday it would go to European courts to challenge the latest Portuguese government’s investment in TAP. The government reached a deal with private shareholders of TAP to increase its state in the company to 72.5%.

Before the bailout, the Portuguese state had 50% of TAP and Atlantic Gateway, owned by Brazilian-American aviation businessman David Neeleman and Portuguese entrepreneur Humberto Pedrosa, had 45% of the airline, which suffered heavy losses due to the Covid-19 pandemic.