{"id":103911,"date":"2020-12-09T13:33:40","date_gmt":"2020-12-09T13:33:40","guid":{"rendered":"https:\/?p=103911"},"modified":"2020-12-09T13:33:44","modified_gmt":"2020-12-09T13:33:44","slug":"portugal-will-inject-1600-million-the-airline-tap","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2020\/12\/portugal-will-inject-1600-million-the-airline-tap.html","title":{"rendered":"Portugal will inject 1,600 million the airline TAP."},"content":{"rendered":"\n

The Portuguese Government held last night an extraordinary Council of Ministers to close a restructuring plan for the airline TAP, whose largest shareholder is the Portuguese State, which provides an economic injection until 2024 of about 1,600 million euros.<\/p>\n\n\n\n

See also: <\/strong>Norwegian gets additional creditor protection.<\/a><\/p>\n\n\n\n

This plan, which will be presented tomorrow to the European Commission, will be shared today by the Government with the various political parties in the parliamentary arch, reported EFE.<\/p>\n\n\n\n

See also:<\/strong> Virgin Atlantic goodbye the Boeing 747.<\/a><\/p>\n\n\n\n

TAP has suffered severely the economic consequences of the pandemic with a reduction of 9 million passengers from January to September 2020, representing a fall of 70%.<\/p>\n\n\n\n

According to some Portuguese newspapers today, there could be a reduction in the workforce of around 3,000 people, including pilots, crew, ground workers and temporary contracts that are not renewed, in addition to a 25% reduction in wages for employees.<\/p>\n\n\n\n

The restructuring plan, which has not yet been made public, could reduce TAP’s fleet, currently with 101 aircraft, by 13 or 16.<\/p>\n\n\n\n

In addition to the Portuguese State, the group’s shareholders are the Portuguese entrepreneur Humberto Pedrosa (22.5%) and the company’s employees (5%).<\/p>\n\n\n\n

TAP recorded losses of 582 million Euros in the first half of the year, five times more than a year before.<\/p>\n\n\n\n

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