28. 10. 94 Official Journal of the European Communities No L 279/29 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 6 July 1994 concerning increase in capital, credit guarantees and tax exemption in favour of TAP (Transportes Aéreos Portugueses) (Only the Portuguese text is authentic) (Text with EEA relevance) (94/698/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Atrticle 93 (2) thereof, Having given notice in accordance with the above Article to interested parties to submit their comments and having regard to those comments, Whereas : By letter of 26 January 1994, registered with the Commis- sion Secretariat-General on 31 January 1994, the Portu- guese authorities notified to the Commission, under Article 93 (3) of the Treaty, their intention to increase the capital of the national airline Transportes Aéreos Portugu- eses, SA (hereinafter referred to as TAP). The aid was registered as notified aid No N 122/94 on 24 February 1994 with the Commission. The Portuguese authorities enclosed with the notification a copy of a restructuring programme, called ‘Strategic, Economic and Financial Restructuring Plan’ (hereinafter referred to as ‘the plan’). The Portuguese authorities and TAP had previously announced their intention to grant aid to Tap, in a meeting held with the relevant officials of the Commis- sion’s Directorate-General VII (Transport) on 25 January 1994 in Brussels. During this meeting the Portuguese Government invited the Commission to request from TAP the information necessary for assessing the aid appli- cation. TAP later provided, additional information and a Portuguese and English version of a report by Banco Portugués de Investimento (BPI) and Barclays de Zoete Wedd Ltd (BZW) (hereinafter ‘the consultants’), on the restructuring and strategic options of TAP. By letter of 19 May 1993 (*) the Commission proposed to the Portuguese Government, under Article 93 (1) of the Treaty, that it should adopt appropriate measures to abolish TAP’s exemption from taxation. The Commission stated in its proposal that should the Portuguese Govern- ment fail to adopt the appropriate measures it might open the Article 93 (2) procedure with regard to the tax exemp- tion. The Portuguese Government informed the Commis- sion that they intended to address this question in the framework of the forthcoming restructuring programme. In fact, in the abovementioned plan the Portuguese Government suggests the abolition of the tax exemption by the end of the restructuring, that is to say, by the end of 1997. The Commission decided to open the Article 93 (2) procedure with regard to the abovementioned aid measures and informed the Portuguese Government of this decision by letter of 21 March 1994. This letter was published in the Official Journal of the European Communities(}) and third parties were invited to comment within 30 days of the publication. The Portu- guese authorities replied to the Commission’s letter by letter of 21 April 1994, registered with the Commission on 22 April 1994. The United Kingdom, Sweden, () OJ No C 163, 15. 6. 1993, p. 5. () O] No C 93, 30. 3. 1994, p. 12.