TAP Air Portugal to need EUR2bn in additional state funds by 2024

    TAP Air Portugal received a EUR1.2 billion loan from the Government of Portugal in 2020 (eco.sapo.pt, 05-Jan-2021). The carrier will require an additional EUR2 billion by 2024. The additional loan depends on the approval of TAP Air Portugal‘s restructuring plan by the European CommissionPortugal‘s Minister of Infrastructure Pedro Nuno Santos stated: “TAP has the capacity operate until Feb-2021 or Mar-2021 and we do not expect that more time will be necessary” for the approval of the restructuring plan.

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