LISBON, Oct 8 (Reuters) - Portugal's
soon-to-be-privatised airline TAP is well-positioned to tap into
strong growth potential in Brazil and Africa, Chief Executive
Luis Rodrigues said on Wednesday.
The airline operates routes to 13 Brazilian cities and 14
destinations in Africa, including Portuguese-speaking countries
such as Angola and Mozambique.
"We are fortunate to be well-positioned to tackle both of
them (Brazil and Africa)," he said at the World Aviation
Festival in Lisbon.
"Brazil is a promising country, and there's still a huge
opportunity there," he added, pointing to data showing tourism
in Brazil only representing about 6% of gross domestic product,
while in Portugal it accounts for about 16%.
"In a country that is 20 times as big as Portugal, the
opportunity is huge," Rodrigues said, adding though that while
"Africa is bigger than that", countries there still had more
structural constraints.
According to the CEO, TAP has "a good geographical balance"
between North America, South America, Europe, and Africa, which
allows for flexibility because "not all routes look good or bad
at the same time".
He also saw good prospects for TAP to grow in non-passenger
businesses, such as maintenance and engineering.
Portugal relaunched the long-delayed privatisation of TAP in
July, aiming to sell a 44.9% stake to an airline that could
bring global scale and competitiveness, with an additional 5% to
be offered to TAP employees.
"The time of (TAP) being proudly alone is gone, there was a
time when it was possible, but not anymore and I'd be happy to
be integrated into a larger group," Rodrigues said.
The government wants the new partner, which will take over
TAP's day-to-day management, to strengthen the airline's
position as a global operator.