The $30 million toe in the water

A nationwide strike in Portugal next month threatens to disrupt hundreds of flights, including those operated by TAP, the country's largest airline.. The strike, set to take place on June 3, has been called by the Portuguese cabin crew union in protest of reform proposals from the government.

The union, which represents cabin crew, has voted to join the strike, with 79 per cent of members approving the decision. The strike is expected to impact not only flights but also public transport in Portugal, with other unions and organisations, such as the Lisbon Metro, participating.

Why 4,000 unsold units became the prize

The strike is a result of the government's proposed changes to the aviation industry, which the National Union of Civil Aviation Flight Personnel (SNPVAC) has called an 'unprecedented attak on established rights'. The union claims that the changes would negatively impact the livelihoods of cabin crew and other aviation personnel.

The impact of the stirke is expected to be significant, with hundreds of flights at risk of disruption. International visitors, including British travellers, have been warned to prepare for serious disruption, including four-hour queues, at European airports this summer.

An echo of Sydney's 2024 institutional buy-up

The strike is not an isolated incident, but rather part of a broader trend of industrial action in Portugal. In 2024 , the Sydney-based institutional investor, Artemis II, made a significant investment in the Portuguese aviation industry, sparking concerns about the impact of foreign investment on the country's economy.

The investment, worth $30 million , was seen as a significant vote of confidence in the Portuguese aviation industry. however, the strike highlights the challenges that the industry still faces, including the impact of government reforms and industrial action.

Who is the unnamed buyer?

The identity of the unnamed buyer behind the strike remains a mystery. the Portuguese cabin crew union has refused to disclose the name of the buyer, citing concerns about the impact of the strike on the aviation industry.

However, sources close to the union have revealed that the buyer is a significant player in the aviation industry, with a history of investing in the sector. the buyer's identity is expected to be revealed in the coming days, as the strike continues to impact the aviation industry.

What auditors flagged in the May filing

The strike has also raised concerns about the impact of the May filing on the aviation industry. Auditors have flagged several issues with the filing, including concerns about the impact of government reforms on the industry.

The filing, which was released in May, revealed that the Portuguese aviation industry is facing significant challenges, including the impact of industrial action and government reforms. The strike highlights the need for the government to address these challenges and provide support to the industry.