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Tap Portugal Sells Stake In White To Omni  
User currently offlineWINGS From Portugal, joined May 2005, 2831 posts, RR: 68
Posted (8 years 2 weeks 5 days 10 hours ago) and read 4368 times:

Tap Portugal and OMNI have reached an agreement for the sale of Taps's 75,5%. The deal is valued at 6.5 Million Euros.

Hopefully with OMNI taking control of White they will manage to bring White's finances into the black for once.

Sorry folks only in Portuguese.
http://diarioeconomico.sapo.pt/edici...empresas/pt/desarrollo/685565.html

Aviação 2006-09-05 16:27
TAP vende White à Omni por 6,5 milhões de euros
A TAP chegou a acordo com a Omni para a venda da companhia ‘charter’ White. Uma transacção avaliada em 6,5 milhões de euros que permitirá transportadora nacional libertar-se dos prejuízos acumulados pela White nos últimos anos e que continuam a afectar o balanço consolidado das contas da TAP.





Regards,
Wings


Aviation Is A Passion.
9 replies: All unread, jump to last
 
User currently offlineTiago701 From Portugal, joined Jun 2006, 171 posts, RR: 3
Reply 1, posted (8 years 2 weeks 5 days 9 hours ago) and read 4324 times:

That's good news.

TP should sell everything that is not part of its core business or strategic to its operations.

Not a very high price, but i don't know what White owns or not.


User currently offlineA388 From Netherlands Antilles, joined May 2001, 9832 posts, RR: 11
Reply 2, posted (8 years 2 weeks 5 days ago) and read 4223 times:

Quoting WINGS (Thread starter):
Hopefully with OMNI taking control of White they will manage to bring White's finances into the black for once.

I think you mean that OMNI will manage to bring White's finances OUT of the black. I wasn't aware White was performing poorly financially speaking. I hope they will indeed turn around with OMNI now taking over control. White only operates one aircraft (A310-300) right? Good luck to White!  Smile

A388


User currently offlineStrangeLESI From Portugal, joined Feb 2006, 26 posts, RR: 0
Reply 3, posted (8 years 2 weeks 4 days 19 hours ago) and read 4188 times:

Quoting A388 (Reply 2):



Quoting A388 (Reply 2):
only operates one aircraft (A310-300) right?

Hi!

White operates an Airbus A310-304 and a Lockheed L-1011-385-3 TriStar 500.


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Photo © H. Meier


View Large View Medium
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Photo © Krzysztof Skowronski



The A310 will stay with OMNI, and the Lockeed will be for TAP. TAP is going to sell the Lockheed and has already some proposals.


User currently offlineWINGS From Portugal, joined May 2005, 2831 posts, RR: 68
Reply 4, posted (8 years 2 weeks 4 days 18 hours ago) and read 4177 times:

Quoting A388 (Reply 2):

I think you mean that OMNI will manage to bring White's finances OUT of the black.

Hi A388,

I think that you mixing it all up. White's finances are currently in the Red. Which means that they are loosing money. If OMNI manages to get White's finances back on the black then that means that they are turning a profit.  Smile

Quoting StrangeLESI (Reply 3):

The A310 will stay with OMNI, and the Lockheed will be for TAP. TAP is going to sell the Lockheed and has already some proposals.

Hi, StrangeLESI,

According to Jornal De Negocios, The Lockheed is currently being leased. Do you have some information that contradicts this?

http://negocios.pt/default.asp?CpContentId=281667

O acordo estabelece que a TAP ficar com o Lockheed que esta em regime de leasing, para futura alienacao, enquanto a OMNI passa a deter o A310. Os referidos avioes faziam parte da frota da White.

Regards,
Wings



Aviation Is A Passion.
User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 5, posted (8 years 2 weeks 4 days 18 hours ago) and read 4160 times:

In my view, TAP's decision to sell its stake in White is because they need the cash to buy Portugalia, which would fit better in TAP's "core business" strategy.

Rgs,


User currently offlineTiago701 From Portugal, joined Jun 2006, 171 posts, RR: 3
Reply 6, posted (8 years 2 weeks 4 days 14 hours ago) and read 4096 times:

Quoting Hardiwv (Reply 5):
In my view, TAP's decision to sell its stake in White is because they need the cash to buy Portugalia, which would fit better in TAP's "core business" strategy.

I don't think that 5 million (according to TP's and OMNI's press release) will make a big difference in a deal of more than 100 million (to buy NI) but i agree with you on the consolidation of their strategy.


User currently offlineStrangeLESI From Portugal, joined Feb 2006, 26 posts, RR: 0
Reply 7, posted (8 years 2 weeks 4 days 12 hours ago) and read 4046 times:

Quoting WINGS (Reply 4):
According to Jornal De Negocios, The Lockheed is currently being leased. Do you have some information that contradicts this?

Hi WINGS,

I know what i've heard in TVI this morning (I swear that it was my mom that was seeing, and i know thay make lots of mistakes).

They said that the Lokheed was going to TAP, and TAP had already some proposals from possible buyers! They din't mentioned that the plane was beeing leased.

Regards A. Pinto


User currently offlineA388 From Netherlands Antilles, joined May 2001, 9832 posts, RR: 11
Reply 8, posted (8 years 2 weeks 4 days 4 hours ago) and read 3938 times:

Quoting WINGS (Reply 4):
Hi A388,

I think that you mixing it all up. White's finances are currently in the Red. Which means that they are loosing money. If OMNI manages to get White's finances back on the black then that means that they are turning a profit.

Hi WINGS, I stand corrected. I misread it than. Usually you get a company out of the black which means you make the company profitable. When you're in the black, as the word already implies, you are getting bad financial results. But like you said it, it is the same. So my apologies my friend.

A bit off topic, but we had a charterflight from LIS/FNC to CUR and it was operated by TP. When I called the TP agent here they informed me there was only ONE flight to CUR which surprised me. So I was hoping to see White operate the other flights but there hasn't been another Portuguese flight here since...  Sad If you know more about charterflights to CUR from Portugal, please let me know.

Regards,

A388


User currently offlineBuyantUkhaa From Mongolia, joined May 2004, 2899 posts, RR: 3
Reply 9, posted (8 years 2 weeks 3 days 15 hours ago) and read 3870 times:

Quoting A388 (Reply 8):
Usually you get a company out of the black which means you make the company profitable. When you're in the black, as the word already implies, you are getting bad financial results.

It's actually not like that in English (or the other languages I know). When you're "in the red" you loose money, and "in the black" you make profit. Reason being that losses were supposed to be written in red ink to stand out more, whereas the rest would be written in regular black.



I scratch my head, therefore I am.
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