TAP sold the 49% stake it held in SPdH, also known as Menzies, for a symbolic value of just one euro. The operation took place within the framework of a restructuring process of the Portuguese airline, which had already gone through an insolvency plan.
SPdH is a handling company (ground assistance) that operates at Portuguese airports. The sale of this stake is part of TAP's strategy to reduce its asset portfolio and focus on its core air transport operations.
The sale for one euro reflects the company's difficult financial situation, which resulted from the previous insolvency plan and the economic difficulties faced by the airline in recent years. This sale represents another step in TAP's restructuring process.
