CFO leaves amid TAP privatisation. Gonçalo Pires replaced by Renato Inácio
The Portuguese airline reports that Gonçalo Pires has resigned from his position and will be replaced by Renato Inácio, who currently serves as senior director of Corporate Finance and Risk.
TAP has decided to change its chief financial officer (CFO) at a time when the company is undergoing privatisation. Gonçalo Pires, who had held the position since 2021, has resigned. He will be replaced by Renato Inácio, who was previously senior director of Corporate Finance and Risk.
Renato Inácio is a guest lecturer at ISEG/University of Lisbon. Before joining TAP, he spent most of his career at Deloitte (until 2017) as a partner in Financial Advisory Services, and subsequently worked at various private equity firms, according to the company.
Gonçalo Pires submitted his resignation to the Chairman of the Board of Directors, Carlos Oliveira, on 31 January. Renato Inácio joined TAP’s executive committee as CFO with effect from 3 February 2026.
The carrier justifies Gonçalo Pires’ departure with the end of a cycle marked by the restructuring of the company. “One of the main objectives of his mandate was the preparation and implementation of TAP’s recovery plan, approved by the European Commission in December 2021 and with an implementation horizon until December 2025. With this cycle now complete, he is dedicating himself to other professional challenges”, it said in a statement released on Wednesday.
The financial administrator is leaving his post at a time when the privatisation process of 49.9% of TAP’s capital is underway, which is currently in the non-binding bid submission phase. Gonçalo Pires joined TAP’s administration in 2021, joining the management team then led by Christine Ourmières-Widener, as appointed by the Government.
Gonçalo Pires joins Kazakh airline
Gonçalo Pires is leaving his position as financial director at TAP to take up the same role at Air Astana, Kazakhstan’s flag carrier. The current CFO of the Central Asian airline will take over as chief executive of the company.
“Air Astana announces the appointment of Gonçalo Pires as chief financial officer (CFO), effective 1 March 2026”, the carrier said in a statement.
“Having been CFO of Portugal’s flag carrier for several years, Gonçalo has the right profile to support Air Astana’s development and capitalise on growth opportunities in our markets”, said Air Astana’s current CEO, Peter Foster, quoted in the press release.
The current CFO, Ibrahim Canliel, will take over as chief executive in April. “Together with Ibrahim, who will take over the leadership of the company in April after eight years as CFO, I am confident that Air Astana will continue to successfully execute its long-term growth strategy”, said the Kazakh company.
Air Astana is Kazakhstan’s national airline and claims to be the leader in Central Asia in terms of revenue and fleet size. Launched in 2002, it is based in Almaty, the country’s largest city, and is owned by a Kazakh sovereign wealth fund and BAE Systems, the British aerospace and defence multinational.
The Kazakh carrier is smaller than TAP. According to information available on its website, it has a fleet of 61 aircraft, compared to around 100 for the Portuguese company. In the first nine months of 2025, it carried 7.5 million passengers and had revenues of $1.09 million (€928 million at the current exchange rate). In the same period, the Portuguese company recorded 12.6 million passengers and €3.28 billion in operating revenue.
