AERO TRADING GROUP Corp

Direct government funds for TAP in doubt

Direct government funds for TAP in doubtDirect government funds for TAP in doubt

Portuguese Finance Minister João Leão stated in parliament yesterday that no direct funding support for TAP is currently planned for 2023, but loans might be required if the airline cannot secure funding from other sources. The government expectation is that the airline has adequate capital resources. TAP has already received €1.2bn in funding commitments with €962 million coming in 2021, of which €500 million are state backed guarantees with €462 million in direct state aid.  According to João Leão, another €800 million will have to be allocated in 2022 to keep airline finances in good order.

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