[ad_1]
ANDstatements to Lusa, David Neeleman, which with businessman Humberto Pedrosa, owner of the Atlantic Gateway consortium, owner of 45% of TAP’s capital, began considering that Portugal is “reacting very well” to greedy-19, “thanks to the sanitary and economic measures defined and implemented on time by the Government and followed by the entire population and companies.”
“I saw with satisfaction that the Portuguese Government was not only concerned about the health problem, but also launched incentives to the Portuguese economy from an early age, where the state guarantee was one of the main measures to support SME [pequenas e médias empresas], as well as the simplified dismissal (suspension of the contract or reduction of working hours) to which TAP adhered, “he says.
No sector aviation the impact of greedy-19 “is brutal and TAP is no exception” as it has 95% of aircraft on the ground and 90% of employees at home, he recalls, emphasizing that “even the largest and strongest aviation companies face huge challenges. “
If it had not been for this situation, TAP, which “managed to build a solid treasury position in 2019, the best in its history, which ended the year with 435 million euros in cash”, could “face 2020 with ease”. , he says.
However, in the context of the restrictions, meanwhile imposed by the pandemicDavid Neeleman says “immediately” TAP contacted “investors European and other geographies to obtain additional financial support “to face the negative effects of this crisis and that”, in general, investors They maintain their interest in financing TAP, having presented very interesting and competitive financing proposals, guaranteed by the State. “
“Among the various mechanisms available for state support, the issuance of a guaranteed debt is what has been adopted more frequently by our competitors for having a series of advantages, among them the execution time that at that moment is crucial for TAP “, assures the businessman.
“It is important to remember that, since privatization, the State did not have to put a euro in TAP and now, despite the enormous difficulties, what we need is a state guarantee for financing and not a loan right of the State “, he stresses.
This week, both Finance Minister Mário Rye, like the Minister of Economy, Pedro Siza Vieira admitted the nationalization of TAP as one of the possibilities to make the company viable.
“As my partner Humberto Pedrosa said, the request for aid requested by the State, which will allow us to secure jobs and sustainability of TAP, is in line with the amount reimbursed by TAP, in the last 15 months, to the debt bank guaranteed by the State, which at the time of privatization It was 466 million euros, so the State would not significantly increase its risk in relation to TAP, more than a few months ago, “he adds.
Neeleman adds that, in the approval and reinforcement of support measures and frameworks exceptional to help airlines secure their sustainabilityThe European Union and governments around the world “also pointed out, from the beginning, to financial markets that one of the main ways of supporting the recovery of the economy would be the provision of state guarantees for new financing obtained by companies “
It is at this juncture that David Neeleman He says they are “fully available to continue collaborating and speak to the Portuguese Government in an open and constructive spirit.”
On Thursday, the president of the TAP Board of Directors, Miguel Flask, declared in parliament that the carrier “has already addressed a request for assistance to the Portuguese State”, hoping that an answer may be known “very soon”.
“More than ever, we all have to work together so that TAP can fly again as soon as airspace opens,” says David. Neeleman.
“2019 was a year in which the ‘change’ was consolidated [recuperação de valor] and despite the first semester challenging, there was a clear reversal of operating and financial results in the second half. Trend that continued until February this year, which presented better operating ‘performance’ than the same period in 2019: the number of passengers increased by 14% and revenue increased by 17%, “says the businessman.
David Neeleman says in this regard that the investment in recent years in the renewal of the fleet, which makes it one of the “youngest and most efficient in the world”, allows the carrier to be “prepared” for the future and competition when the market reopens.
“The short-term challenges are profound. The results achieved in the transformation of TAP, the result of the work we have been developing together with the shareholder With the dedication of our 10,000 workers, give us the confidence that together we can ensure that our TAP continues draft growth on a safe route, “he concludes.
The TAP Group recorded losses of € 105.6 million in 2019, an improvement of € 12.4 million compared to losses of € 118 million recorded in 2018.
In addition to 45% of the Atlantic Gateway private companies, TAP is 50% owned by the State, through Parpublic, And 5% by workers.
Always be the first to know.
Follow the site chosen for the fourth consecutive year by Consumer Choice.
Download our free app.
[ad_2]
