TAP's Board of Directors decided to extend the lay-off period for workers until the end of June, justifying 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 have not changed significantly, so we inform you of the extension of the lay-off period for an additional period of 30 days ”, reads 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 TAP family jobs, health and safety”, As well as“ the company's recovery, sustainability and future ”.
TAP resorted, on April 2, 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, this extension is the second.
TAP is in a aggravated financial situation since the beginning of the crisis caused by the covid-19 pandemic, with the operation almost completely paralyzed, state intervention in the company being debated.
This Tuesday, in parliament, the Minister of Infrastructure and Housing said that the Portuguese State would leave for a negotiation without “excluding any scenario”, including “that of 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 hopes to have a decision on the cash injection at TAP in mid-June, hoping that there will be a better “technical basis” of the airline's request for assistance 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 appropriate 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.