TAP chairman confirms request for state aid submitted
The chairman of TAP states that the group is "going through the most delicate period of its 75 years of existence" and has therefore already made a formal request for State aid.
Miguel Frasquilho, Chairman of TAP, said on Thursday that the airline “has already submitted a request for State aid”, hoping that a response may be known “very soon”.
Miguel Frasquilho was speaking to the parliamentary committee on Economy, Innovation, Public Works and Housing, as part of a request from the Left Blok on the situation of TAP and plans for the future.
“TAP has already addressed a request for aid to the Portuguese State,” said the company’s chairman, pointing out that the Portuguese airline has “the advantage of having the State as a shareholder.
He also said that support for airline operators is happening “in all European countries”, as in the United States, “where a package of aid to companies has been negotiated” involving equity stakes in several aviation companies.
The ‘chairman’ stressed that the “strengthening of the state’s shareholder position cannot be ruled out” in the current context, as “no scenario can be ruled out” in view of the coronavirus pandemic.
“We are expecting to see a response very soon,” he added.
“I am sure that we will find the best solution for TAP to ensure the future of the company,” stressed the manager.
Furthermore, “we are aware that this aid” will appear “with associated conditions”, since “those who help can impose conditions”, he pointed out.
