TAP Portugal, founded in 1945 as Transportes Aéreos Portugueses, SGPS, S.A., commonly known as TAP, is the national airline of Portugal. TAP Portugal is 100% state owned and has its head office on the grounds of Portela Airport in Santa Maria dos Olivais, Lisbon, and has been a member of the Star Alliance since 14 March 2005, the same day on which the company celebrated its 60th anniversary. Its hub in Lisbon is a key European gateway at the crossroads of Africa, South America and North America. Privatisation of the airline was announced in 2011 as part of Portugal's €78 billion bailout agreed by the EU and the IMF. but negotiations stalled and may be continued in 2014.
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