The former Chairman of the Board of Directors (PCA) of the Portuguese airline, TAP, Miguel Frasquilho believes that the airline should be privatized as soon as possible.

According to the source, he defended this position on Thursday, considering that it could be successful, and if the Portuguese state maintains a stake, it should be "clearly in the minority".

In front of the parliamentary commission of inquiry into TAP, Miguel Frasquilho said that "I hope that the privatization is successful as soon as possible and, if the state keeps a stake in the company, it should clearly be a minority one".

In a hearing that lasted around three hours, Miguel Frasquilho, who was chairman of the airline between 2017 and 2021, reiterated that the alternative to state intervention in 2020 "was to close TAP".

Meanwhile, regarding the pre-retirement agreement with former director Max Urbahn, which is being challenged in court by TAP, Miguel Frasquilho said that he became aware of this agreement, handled by the executive committee, after it had been signed, but that it had been a decision taken based on the support of TAP's services and that they had assured him that "there was no problem".