The European Commission has allowed the transfer of €462 million ($560 million) in COVID-19 pandemic damages from the Portuguese state to TAP Air Portugal but the airline is still waiting on EC approval for its turnaround plan.
The Portuguese flag-carrier said it hopes to reach 60-70% of the equivalent 2019 capacity by the end of 2021, providing its restructuring plan is approved.
Several Star Alliance airlines have reduced their February capacity further after stricter travel restrictions designed to stem the spread of COVID-19 made air travel nearly impossible.
TAP Air Portugal plans to reduce its fleet to 88 aircraft and cut 2,000 positions under a restructuring proposal, which has been submitted to the European Commission (EC) for approval.
Routes Reconnected will unite the global route development community at the end of this month to pave the road to recovery and rebuild demand for Summer 2021.
During a series of airline briefings at Routes Reconnected, leaders of network planning teams will outline their recovery strategies, how they will identify new market opportunities and what support mechanisms will influence future route decisions.
Vice presidents and heads of network planning teams have registered for the event that will support the community in reshaping the world’s route networks.
As lockdowns ease, new market patterns, regulations and business practices are emerging. Those organizations that adapt most effectively will emerge strongest.
Last week, Routes announced its brand-new hybrid event – Routes Reconnected. We spoke to Routes’ Director, Steven Small, to understand how the event will support the industry in rebuilding and reshaping the world’s air services in the post-pandemic era.
A new event is being launched by Routes which will provide an innovative platform for the aviation industry to rebuild air services in the post-pandemic era.
Portugal has become the latest European government to back its largest airline after increasing its existing stake in TAP Air Portugal from 50% to 72.5%.
