By Andrea Hargraves 
TAP enters 2022 with 100% public capital. The subject of the dispute is the increase in new capital in the air carrier, with the entry of 536 million euros and the transfer of capital to a capital of 1.2 billion. The change comes six years after the airline was revitalized, having placed 61% of the capital in the hands of Atlantic Gateway.
This amount is added to the 462 million that the state achieved, in May, to compensate the airline for the losses caused by the epidemic. In all, the company received an expected 998 million in 2021. But this year there is more. According to the restructuring plan of TAP – which expects to pump 3200 million – the company will receive an additional 990 million in 2022. However, part of these funds will be deposited with the carrier through a state-guaranteed loan, amounting to 360 million, with a maturity of one year. At the end of the term, the state pumps this amount into the TAP, which is paid back to the investors.
However, from 2023 onwards, there will be no more taxpayer money in the company, but the plan foresees going to the market for financing with a minimum value of 250 million euros and a maximum of 512 million euros.
This means that the headache is about to start. As Sergio Palma Brito, author of TAP que futuro? How did we get here? “State aid authorized by the Commission ensures the airline’s path towards long-term viability. This viability is ensured by TAP with qualified state contributor, independent and responsible management, and motivated workers. None of these requirements has been adequately secured .
Indeed, in exchange for the green light from Brussels, the airline will, however, have to give up 18 places at Lisbon Airport. Claim from low-cost airlines such as Ryanair and easyJet. However, it is exempt from further layoffs, pay cuts or return planes.