The Portuguese government has announced plans to reprivatize 49.9% of the national airline TAP, aiming to attract investors including major European aviation groups. This move comes after years of financial challenges and government intervention in the airline. The reprivatization is intended to prevent further financial losses, described by officials as avoiding "throwing money into a bottomless pit." Carlos Oliveira, former Secretary of State for Entrepreneurship, has been appointed as the new chairman of TAP's board of directors. The airline is undergoing restructuring, with its "bad" assets moving towards insolvency, and a loan from Brazilian airline Azul is considered a contingency in the privatization process. An amendment has also been made to facilitate the return of 480 million euros in state aid related to unfinished investments. Infrastructure Minister Miguel Pinto Luz emphasized the urgency of TAP's growth, stating that the airline must expand or face collapse. TAP's strategic connections to Brazil and the tourism boom are seen as key assets in the sale, with a German airline previously considered a favored buyer.