Covid-19: TAP again extends workers' lay-offs until the end of June

TAP's Board of Directors decided to extend the workers' lay-off period until the end of June, justifying it with the restrictions on mobility and the reduced operation scheduled for June.

“Taking into account the evolution of restrictions on mobility of people defined, at every moment by the government authorities of the countries where TAP operates, and the faint signs of demand, the operation planned for June remains very low. Thus, it appears that the conditions that determined the use of the simplified 'lay-off' program (…) did not change significantly, so we inform you of the extension of the lay-off period for an additional period of 30 days. ”, Read in the information sent by the airline to the workers, to which Lusa had access.

The company adds that all employees will be informed individually about the “modality that will be applied to them” in the extension of the “lay-off” and that “everything will be done to protect the jobs, health and safety of the TAP family”, as well as “ recovery, sustainability and the company's future ”.

On April 2, TAP resorted to the simplified lay-off program, made available by the Government as one of the measures to support companies suffering from the effects of the covid-19 pandemic, having subsequently extended it until May 31. . Thus, the extension announced today is the second.

TAP has been in an aggravated financial situation since the beginning of the crisis caused by the covi-19 pandemic, with the operation almost completely paralyzed, and State intervention in the company is being debated.

This Tuesday, in parliament, the Minister of Infrastructure and Housing said that the Portuguese State would go into a negotiation without “excluding any scenario”, including “that of the company's own insolvency, because obviously the State cannot be captured, handcuffed in a negotiation with private individuals ”.

Pedro Nuno Santos also stated that it is necessary, in the first place, to clarify with the private shareholder what is his availability to accompany the public intervention, an issue to which, according to the minister at the time, TAP has not yet answered.

On May 13, the Secretary of State for the Treasury, Álvaro Novo, said that the Government expects to have a decision on the injection of money into TAP in mid-June, hoping that there will be a better “technical basis” for the request for assistance from airline to the State by the end of the month.

The Minister of Finance, Mário Centeno, defended on May 12 that an injection shared between the private shareholder and the State would be “the easiest way to talk” about a capitalization of TAP.

The Prime Minister, António Costa, for his part, assured in early May that there will only be support for TAP with “more control and an adequate power relationship”, but said that the air carrier will continue to “fly with the colors of Portugal. ”.

Since 2016, the State (through Parpública) has owned 50% of TAP, the result of negotiations by the Government of António Costa with the Gateway consortium (of Humberto Pedrosa and David Neeleman), which took 45% of the carrier's capital.

The remaining 5% of the company is in the hands of workers.

Portugal accounts for 1,289 deaths associated with covid-19 in 30,200 confirmed cases of infection, according to the latest daily bulletin from the Directorate-General for Health (DGS) on the pandemic.

In relation to the previous day, there are 12 more deaths (+ 0.9%) and 288 more cases of infection (+ 1%).

IM (ARYL / MPE / ALU) // CSJ

The Covid-19: TAP content is once again extending workers' lay-offs until the end of June appears first in Visão.

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