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Portugal's government has announced it will take a majority stake in TAP Air Portugal, paving the way for the airline to take a billion-dollar bailout. (Photo: AirlineGeeks | William Derrickson)

Portugese Government Takes Majority Stake in TAP Air Portugal

Portugal’s government has agreed to pay €55 million ($62 million) to increase its stake in TAP Air Portugal, the national airline, to prevent the carrier from going bankrupt. The government will own a 72.5% stake in the airline, up from the 50% stake it’s held since partially privatizing the airline in 2015. The government is purchasing a 22.5% stake back from David Neeleman, the Brazilian-American businessman who has founded five airlines, including JetBlue and Azul. Humberto Pedrosa, a Portuguese businessman…

Italian Government Renationalizes Alitalia

Troubled flag carrier Alitalia will become once again a state-owned airline as a result of a new decree signed on Monday by Italian Prime Minister Giuseppe Conte as part of a relief package to support the economy in a country hit hard by the COVID-19 pandemic. Alitalia was supposed to…