TAP sale to go ahead despite costly strike

Strike at flag carrier cost €35mn in lost revenues, expenses
The 10-day pilots’ strike at Portuguese flag carrier TAP, which ended on Sunday, cost €35 million in lost revenues and expenses – but the sale of the airline the strike protested against will still go ahead.
“The privatisation process continues,” said Portugal’s economy minister, Antonio Pires de Lima. “It is necessary to ensure that TAP remains viable and sustainable, to ensure its recapitalisation.” He added: “In just a few days we will know the proposals by bidders.”
Binding bids to buy a majority stake in TAP, which is weighed down by €1 billion in debt, have a deadline of May 15.
The minister accused the pilots’ union of irresponsibility. But he said the strike had failed due to poor participation, as TAP managed to operate 70% of all scheduled flights. “There has never been a TAP strike with such low participation,” he said. “I do not believe that another strike is possible.”


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