Tap needs another 1.8 billion euros

The Portuguese government has submitted the restructuring plan for the national airline in Brussels. It states that Tap will need new funds of up to 1.8 billion euros over the next four years, either as government grants or as state guarantees for loans. This year the state has already given a guarantee for loans over 1.2 billion. The plan also includes 1,200 job cuts, 20 aircraft and a 20 to 25 percent cut in wages.

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