Azul still expects to recover the €189 million it claims from the former TAP SGPS holding, now Siavilo, and maintains that the legal dispute has not affected its commercial partnership with TAP. The claim stems from a 2016 €90 million bond loan and includes accrued interest, lifting the amount sought to about €188.985 million.
Fábio Campos, Azul’s vice-president, made the latest remarks in Lisbon during an event marking 10 years of the airline’s operations in Portugal. The company launched its Portuguese service in 2016 and has since built a business linking Brazil with Lisbon and Porto.
Azul filed court proceedings in Lisbon in March seeking payment from TAP, arguing that the former TAP SGPS did not put in place the guarantee structure it expected under the deal. The wider case has also been complicated by a recent prosecutor’s view that the insolvency of the former holding company was fortuitous rather than culpable, a position that cuts against Azul’s legal argument, although the final ruling remains with the court. The carrier continues to seek repayment while the case moves through the legal process.