TOURISM LAW AND COMPETITION – A PORTUGUESE PERSPECTIVE 437 • Also in 2020, Team Treuhand GmbH (through SG Luftfahrt), a company which under German law holds fiduciary powers in the context of restructuring and insolvency procedures, notified the acquisition of Condor. The latter is an airline touristic company (former subsidiary of Thomas Cook group) and its activity in Portugal focused on the operations of flights from several parts of Germany towards Funchal, in the Autonomous Region of Madeira56. • Already in 2021 two sub-holdings of vertically integrated groups Logitravel and Piñero, both with presence in Portugal have notified the creation of a full-function joint venture57. Concerning the airline sector, the most relevant merger control decisions concern Portuguese flag carrier TAP58: first in 2015 in the context of its privatisation; subsequently in 2016, as a result of an amendment to its shareholders’ structure and expansion of the powers of the Portuguese State (acquiring joint control); and lastly in 2020, when the Portuguese State acquired sole control of TAP. This is addressed further hereunder in F.2.4.1. In its decisional practice concerning the above-referred concentrations, the CA has analysed several relevant and related markets taking into account their product (service) and geographical dimensions, such as the provision of services by touristic operators and by travel agencies, the accommodation activities and possible segmentations and air travel. Concerning specifically the accommodation activities, the CA has discussed the definition of the product market as the market for the provision of accommodation services as a whole (including all types of establishments – hotels, apartment hotels and even Airbnb’s) or further segmenting it into the provision of accommodation services specifically in hotel establishments. The CA has also considered a further segmentation by taking into account the rating of the hotels (i.e., 2-star, 3-star, 4-star or 5-star hotels). As regards the relevant geographic market, the CA has considered a regional dimension, since one of the 56 Ccent. 41/2020 – SG Luftfahrt / Condor. 57 Ccent 21/2021 - Levantur*Aperture / Sociedade Conjunta. 58 Respectively, cases Ccent 41/2015 – Atlantic Gateway/TAP, Ccent. 31/2016 – Parpública*Atlantic Gateway/ TAP and Ccent 20/2020 - República Portuguesa / TAP SGPS. It should be highlighted that the public shareholder is Parpública, S.G.P.S., S.A., the holding company is notably entrusted with the management of private companies providing services of general economic interest, as well as envisaging the promotion of the efficient management of public companies. For more information on its bylaws and other relevant information, please visit https://www. parpublica.pt/index.php/sample-levels/level-22.
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