Demirci, IremCarvalho, Pedro Hibon de Campos Dias de2022-06-222022-06-222022-01-102021-12-17http://hdl.handle.net/10362/140476TAP Air Portugal is a Portuguese flag carrier that was born in 1945. Since then, most of the time it has relied on either private investment or state aid. This case study will go into the depth of both the company’s growth and condition over the years until today, where it faces the biggest challenge within their 76 years of existence, but also briefly exposes the panorama airlines face with the ongoing pandemic. Also, it is intended to go into detail about some topics while making some inquiries regarding TAP’s restructuring, the current financial distress, their competitors, future options for them, and the many challenges they can face during the restructuring process.engPandemicCovid-19Financial distressBankruptcyRestructuringAirlineTapFlag carriermaster thesis202972704