CEO expects TAP to be sustainable, profitable in 2025
According to Christine Ourmières-Widener, the first six months of the restructuring plan show that the Portuguese airline is on the "right track", despite facing some challenges.
The chief executive officer (CEO) of TAP, Christine Ourmières-Widener, expects the airline to be “sustainable and profitable” in 2025, stressing that the decision to “boost and support” it is a major commitment by the government and the Portuguese.
“TAP should be a sustainable and profitable company in 2025, that is the commitment of our government with the European Commission,” she told journalists in Sao Paulo, Brazil, to mark the increase from two to three weekly flights between Porto (Portugal) and Sao Paulo (Brazil).
As well as boosting links between these two destinations, TAP has also increased its flights to Rio de Janeiro to twice a week, also from Porto.
According to Christine Ourmières-Widener, the first six months of the restructuring plan show that the Portuguese airline is on the “right track”, despite facing some challenges.
Challenges related to operations, but also to the entire service chain, which has weaknesses and costs, she stressed.
“We are facing a rise in costs that we cannot control,” she said.
In this regard, the manager explained that TAP is trying to mitigate the impact of fuel price increases, already around €250 million, by increasing the range of suppliers.
“This industry is not easy, it is a complex logistics challenge where if we want to provide a very good service we have to make sure that our partners understand what we want to do and where we want to go,” she stressed.
In December, the European Commission approved TAP’s restructuring plan and state aid of 2.55 billion euros, although it did impose some conditions, including that the airline should release up to 18 slots per day at Lisbon’s Humberto Delgado Airport.
The chief executive of TAP said that enforcing the restructuring plan was a “great responsibility” and that she felt it had the full support of António Costa’s government.
She also stressed that there was “total understanding” between the TAP team and the government, highlighting the “willingness” of infrastructure minister Pedro Nuno Santos.
“We know that we have in our hands a great responsibility to enforce the plan, but yes, my team feels supported,” she concluded.
