Cuts ahead for TAP if privatisation fails

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By admin May 8, 2015 11:51

Cuts ahead for TAP if privatisation fails

Portugal’s prime minster has warned that TAP will have to impose drastic cuts on routes and staff if the planned privatization of the airline fails due to the current 10-day pilot strike.

TAP pilots have been on strike since May 1 which has reduced scheduled flights by 30%. May 15 is the deadline for bids to be submitted to buy a majority stake in TAP.

“If the privatisation does not succeed, today we know what the alternative is: a restructuring which can only be based on big lay-offs, route reductions, reduction of equipment and thereby a reduction of the operation and significance of the company,” Passos Coelho told parliament. “That is, transforming TAP into a mini TAP, which is not in the interests of workers, the economy nor the Portuguese.”

admin
By admin May 8, 2015 11:51