Infrastructure Minister João Galamba said on Friday that “the state is a good person” and will comply with what has been agreed regarding the bonus for TAP’s president, if the company’s restructuring process is successful.
“As is known, in 2021 there has been an international recruitment process and a set of terms and conditions has been agreed upon, which must then be ratified by the General Assembly, which is delegated to the Remuneration Committee. The Remuneration Committee has decided – in accordance with the agreement – -, the gross remuneration It did not set the bonus at that time, for a very simple reason, because the bonus is completely linked to the success of TAP’s restructuring,” João Galamba told journalists.
The minister traveled to Castelo Branco today to meet the mayors of the Intercommunal of Beira Baixa (CIMBB) about the strategy for the development of the cross-border link – IC31.
At the end of the meeting, João Galamba explained that at the time of the deliberation of the Remuneration Committee, TAP’s restructuring plan had not been approved.
“And that is why the Remuneration Committee has decided to decide on the bonus issue in the future. In any case, the bonus to be paid will not be paid until the end of 2025-2026, at the end of the restructuring process and only if successful,” he stressed.
He also added that the government plans to immediately start the process that will lead to TAP going public.
“We have good expectations regarding the completion of this process. And of course, received or not and only at the end of 2025-2026, the bonus payment will only take place if TAP’s restructuring process is successful and if a significant portion of the money is injected into TAP is being recovered,” he claimed.
The minister declined to comment on the amount at stake.
“It is not up to me to decide whether the bonus is excessive or not. That has been agreed. The state is a good person, the state follows through on what has been agreed and that is what we will of course do. But, I repeat It.” It is up to the Salary Committee to determine. Not stuck [bónus] because it hasn’t been approved yet [o plano de reestruturação]. At the moment, the restructuring plan has already been approved, but we always talk about a reality that will emerge in 2025-2026 and if the plan goes well,” he said.
Finally, João Galamba emphasized that the government and TAP’s management are currently doing everything they can to ensure that the restructuring plan goes well.
“The news we have is that things are indeed going well. We had expected results that were expected for 2025 and are likely to happen in 2023,” said the minister.
He also left a call “of enormous responsibility” to all political leaders: “It is an issue too important to be just a political weapon”.
“This is a national project and it’s all about getting it right. The government is certainly committed to making it happen and we know the TAP administration is doing the same. And we’re calling on all those in charge to take this into account A call to responsibility for everyone,” he concluded.
Source: DN
