TAP Air Portugal (TP, Lisbon) has filed an application in the Commercial Courts of Lisbon for the liquidation of its groundhandling company, Servicos Portugueses de Handling, S.A. (SPdH), also known by its trademark Groundforce Portugal.
The airline is a creditor of Groundforce, which to date has provided ground-handling services to TAP at Lisbon, Porto, Faro, Funchal, and Porto Santo.
At the end of April, Groundforces board of directors approved the cancellation of its groundhandling contract with TAP, alleging that the contract, as it was structured, had been unviable.
Groundforce is owned 50.1% by private entity firm Pasogal and 49.9% by the TAP Group, which, in 2020, became 72.5% owned by the Portuguese state. The TAP Group share is…
Read the full article at: https://www.ch-aviation.com/portal/news/103595-tap-portugal-applies-for-liquidation-of-its-groundhandler
