TAP 2022 revenue could be higher than anticipated in restructuring plan

  • Lusa
  • 29 December 2021

João Leão said this Wednesday that the airline's revenues may be better than anticipated in 2022.

Finance minister João Leão said Wednesday that the TAP restructuring plan was based on a conservative scenario and hoped that in 2022 the airline’s revenues may be better than anticipated.

“In the TAP restructuring programme, the scenario that was created for 2021 and 2022 was conservative and, therefore, the outlook that we now have on the evolution of revenue in the company does not differ from what is in the plan,” the finance minister said at the end of the Cabinet meeting.

These projections, the minister also said, are “very close” to the final figure recorded in 2021. However, in relation to 2022, João Leão does not rule out that, despite the evolution of the pandemic and the impact it is having on the aviation sector (with the cancellation of flights), the company’s revenue “may be better than anticipated in the restructuring plan.

In response to a question about whether the impact of the evolution of the pandemic and the increase in the number of infections via the Omicron variant in TAP’s operations may lead to the need for an additional injection of money into the airline, the minister repeated the amounts that Brussels authorised to be injected.

Thus, still in relation to 2021, what is planned is an injection of €536 million, which will be carried out later this week.

“For next year, what is planned is €990 million, [which] concludes the injection of funds up to that maximum amount authorised by the European Commission”.

João Leão also reiterated that the maximum amount that the state can authorise next year for injection into TAP is €990 million and that this “will be carried out depending on the sector and the company’s results next year.