Parpública’s president said this Thursday that the total cost of TAP’s restructuring is about €5 billion, plus €3.2 billion in government support with the company’s own contribution and Covid compensation.
“This sum of the own contribution with the total state aid – not only the restructuring aid, but also the covid compensation aid – will add up to the total cost of the restructuring, which, within the scope of the restructuring plan and the decision of the European Commission, will reach approximately 5,000 million euros”said Jaime Andrez, responding to Liberal Initiative (IL) deputy Bernardo Blanco, in the parliamentary committee of inquiry into TAP.
The official stressed that negotiations with Brussels on TAP’s restructuring plan, approved on December 21, 2021, were “very difficult”, especially on “two very important tools for the European Commission’s final decision”, which had to do with sharing of losses by the various partners of the company and with own contribution.
As explained by Jaime Andrez, the contribution itself has to do with cutting costs to make the company’s economic and financial activities viable.
Source: DN
