The government has extended the maturity of a € 1.2 billion TAP loan through the end of the year, the airline said. The information was sent in a statement sent to the Portuguese Securities Market Commission (CMVM). The earlier agreed date is September 1.
“Therefore, the loan provided by TAP under the Financing Agreement will expire on December 31, 2021 (not September 1, 2021, as originally stipulated in the Financing Agreement) if the European Commission does not accept the decision. on assistance in restructuring before that date, ”the statement said.
“If the European Commission makes a final positive decision on the restructuring assistance by December 31, 2021, the repayment date of the aforementioned loan will be kept as that which can be set in the TAP Group restructuring plan approved by the European Commission. “, – adds the airline.
The government support provided by TAP, amounting to 1.2 billion euros, was aimed at meeting urgent liquidity needs in the face of a pandemic, with predefined conditions for its reimbursement.
In 2020, TAP returned to the control of the Portuguese state, which now owns 72.5% of its capital, after the company was severely hit by the pandemic and the European Commission authorized 1.2 billion euros in state aid.
91 more flights per week in winter
On Wednesday, TAP announced that it will operate 91 more flights per week during the winter than it currently offers. With this increase, the airline will operate 941 flights per week during this period.
“The TAP flight plan for IATA Winter, which will start on October 31 and will last until March 26, 2022, provides that during the peak period of operations planned by the company, a total of 941 one-way flights – about a week, another 91 flights. weekly frequencies than the 850 that the company is offering this summer. “
This increase in supply, according to TAP, “provides a positive sign of confidence in the recovery in travel demand in line with international forecasts for the sector, which supports the company’s operational and economic outlook.”
At national airports, TAP will operate 101 flights per week departing from Porto, connecting Invicta directly with Lisbon, Funchal, London, Paris, Zurich, Geneva, New York, Rio de Janeiro and São Paulo.
In addition, Madeira will operate 49 flights a week to Lisbon and Porto. Ponta Delgada will have 15 flights a week to Lisbon and seven flights a week from Terceira to the capital. Faro will have 21 weekly flights to Lisbon.
In total, TAP will connect Portugal to 37 cities in the rest of Europe with 585 flights per week. Direct weekly flights to Africa and the Middle East will be 93 flights to 15 destinations. In the United States of America, Mexico and Canada, TAP will resume operations on all routes it already operated on before the pandemic, with a total of 59 flights per week on 11 routes.
The air carrier will operate 52 weekly flights to Brazil on 12 routes, which it will operate this winter, and finally to Venezuela, the air carrier will operate one flight per week.
