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In a communication to the workers, to which Lusa had access, the administration says that “the more adhesion, the less need for other measures to be decided in the future.”
In addition to the voluntary measures that will be presented “in the coming weeks”, the Board of Directors adds that “scenarios such as the suspension of payment of some compensation supplements, transversal salary cuts, guaranteeing a minimum amount that ensures the protection of the lowest wages. low, and the possibility of adapting the number of workers to an operation that in the coming years will be reduced between 30% and 50%, thus returning to values experienced for more than a decade ”.
“Only with the contribution of all of us will we be able to save TAP and keep running a company whose more than 75 years of history make us proud. To ensure a relevant TAP in the context of our country and in the world, capable of contributing once again to the development of the Portuguese economy, we have many sacrifices ahead of us ”, reads the communication sent on Friday, after the meeting with the unions. representative of the group’s workers.
At the same time, he says, “aware that the drop in revenue in the coming years will be colossal and is estimated at several billion euros,” TAP implemented “a strong reduction in costs” with suppliers and service providers. , “Which will allow TAP to have economic benefits of around 1,500 million euros in 2025”.
In the note to the workers, the Chairman of the Board of Directors, Miguel Frasquilho, and the Chairman of the Executive Commission, Ramiro Sequeira, underline that “the company needs a coherent, realistic and solid restructuring plan that ensures its survival” that ” It will only be successful if it has the support of all ”.
According to the note, the meeting with the unions served to “agree with them the final version and deliver it to the Government, which will forward it to the European Commission, with which it will be negotiated.”
Recalling that the sector is flying at around 30% of 2019 levels and TAP is no exception, management says that “TAP is at a disadvantage compared to its counterparts, due to lower profitability ratios (EBIT margin), higher unit costs (ex-fuel CASK) and a higher number of workers per aircraft ”.
“We therefore have no alternative but to implement a restructuring plan that includes a strong and transversal reduction in costs and the possible, but uncertain, increase in income, to avoid the end of TAP”, sums up the administration.
At the end of 2019, TAP employed some 10,600 workers and paid more than 750 million euros in wages.
TAP’s restructuring plan must be presented to the European Commission before December 10, with the European Commission being required to grant a state loan of up to 1,200 million euros, to face the difficulties of the company, derived from the impact of the avid-19 pandemic on the aviation sector.
