Portugal: Ground Handling Firm to Pay €461,762/Month to TAP to Lease Equipment
Groundforce Portugal, an airport ground handling company, is to pay €461,762 a month to TAP Air Portugal for the lease of equipment that the airline bought from it for around €7 million as part of a rescue for the troubled company, according to a contract signed between the two companies.
“During the lease term rentals will be due from the lessee to the leased party … in the monthly amount of 461,762 euros, to which VAT at the current rate is added,” reads the contract, which Lusa has seen.