Tags: EU | Portugal | Airline

Portugal Investigates Airline's Purchase of Brazilian Firm

Friday, 08 April 2016 02:25 PM EDT

LISBON, Portugal (AP) — Portugal's attorney general's office says investigators have conducted searches of TAP Air Portugal's premises as part of an investigation into the airline's purchase of a Brazilian aircraft maintenance company.

A statement says authorities suspect the deal involved corruption, money-laundering and embezzlement, among other crimes.

The statement Friday said there are currently no formal suspects in the case. It gave no further details.

The investigation concerns TAP's 2007 purchase of VEM, a maintenance and engineering company that belonged to Brazil's now-defunct Varig Airlines.

TAP was partially privatized last year, with 50 percent now owned by the Atlantic Gateway consortium.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Portugal's attorney general's office says investigators have conducted searches of TAP Air Portugal's premises as part of an investigation into the airline's purchase of a Brazilian aircraft maintenance company.A statement says authorities suspect the deal involved...
EU,Portugal,Airline
101
2016-25-08
Friday, 08 April 2016 02:25 PM
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