Aviation
Commercial /
Europe
TAP case
David Neeleman denies having overpriced TAP planes
Airbus A319
CC BY-SA 4.0, via wikimedia commons
Rafael Ramos
3/13/2023
Recent accusations show that Airbus allegedly financed the purchase of TAP by David Neeleman and a Portuguese partner. Thus, the acquisition of the company would be possible at that time, but for that, Neeleman would close a contract to buy Airbus aircraft above market value in an order made in 2015.
Prosecutors last month said they were investigating the complex lease agreement for the planes and suggestions that Neeleman had bought TAP shares with company money.
Neeleman, an American-Brazilian aviation tycoon, denies that he paid more than the market price for the planes.
When Neeleman and the Gateway Group took over, TAP had a deal for 12 Airbus A350 aircraft, which Neeleman said the airline could not afford. However, TAP replaced the leasing contract with an order for 53 neo series aircraft. Neeleman said this was crucial in saving the company from bankruptcy.
"It is also completely absurd to say that TAP shares were purchased with Airbus funds or with TAP's future cash flows," Neeleman said.
In addition, Neeleman said that Atlantic Gateway injected its own funds into TAP and had secured a loan of 90 million euros from Azul, the Brazilian airline founded by Neeleman.
Image: Azul
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Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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