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Another potential stakeholder for TAP . Albeit the privatization process seems to be moving on steady wheels, this won't be the first time the government has sold a stake in TAP Air Portugal. In 2015, an agreement was made to sell approximately 61% of the airline to Atlantic Gateway. But a few months later, the newly elected government.


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In a nine-page response, the three non-aligned Tap (ASX:TAP) directors — James Menzies, Peter Mansell and Andrea Hall — outlined a plan they say was put to them to sell the company's only producing asset to shore-up the bank balances of its two major shareholders, Risco and Northern Gulf. Risco and Northern Gulf own 45 per cent of Tap.


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What is tap to pay? Tap to Pay is a payments technology that allows purchasers to pay by tapping or hovering over the payment terminal with a contactless chip-enabled card, NFC-enabled smartphone, or wearable device. Tap to Pay is also known as tap pay or tap on phone. Tap to pay uses short-range wireless technology called near-field communication (NFC) to make secure payments.


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Portugal's government plans to sell a controlling stake of at least 51% in state-owned airline TAP, it said on Thursday, after the cabinet approved the privatisation process with a view to develop.


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