TAP Books Huge Loss On Brazilian Maintenance Closure

TAP announced earlier this year that it would close the TAP Maintenance & Engineering Brazil.
Credit: Horacio Villalobos / Corbis / Getty Images
When in late 2021 the European Union approved €2.55 billion ($2.78 billion) of Portuguese state aid for flag carrier TAP Air Portugal, it did so on the basis of a restructuring plan that stipulated the divestiture of the group’s Brazilian maintenance operations and certain other non-core activities...

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