FROM THE EDGE OF EUROPE

摘要

Less than ten years ago Portuguese flag carrier TAP (Transportes Aereos Portugueses) seemed a hopeless case, destined to go the way of Swissair and Sabena. This fairly small airline, supported only by a tiny home market of fewer than ten million people and located at the far Western edge of Europe - a world away from the lucrative traffic streams of the major hubs -faced an uncertain future. It had recorded annual losses of more than €100m, and the private investor SAir Group of Switzerland, which was supposed to take a 37% equity stake, collapsed before it could put through the deal.