TAP expects to receive the last tranche of 990 million euros of state aid at the end of the year and is preparing a trip to the markets to refinance private debt in 2023, management said at a press conference on Tuesday.
At a press conference following the results of the first half of the year, TAP financial administrator Gonzalo Pires clarified that there is no need to enter the market for debt refinancing this year, an operation that was scheduled for the end of 2021 or the beginning of this year. year, due to the increase in capital paid up at the end of last year.
“Over the course of 2023, we will likely have an operation in the financing market in accordance with the commitments made in the plan,” Goncalo Pires said, noting that this refinancing will be prepared in the last quarter of the year and could take place in the first half of 2023.
At stake is the refinancing of the company’s private debt maturing in 2023 and 2024, totaling €700 million.
This year, the final tranche of TAP state aid of 990 million euros in the form of a capital increase is planned to arrive, as happened in 2021.
TAP SA’s losses decreased in the first half of this year to 202.1 million euros compared to the negative value of 493.1 million euros received in the same period last year, and in the second quarter the airline recorded a decrease in losses by 37.2%. , for a negative result of 80.4 million euros compared to 128.1 million received in the same period of the previous year.
According to Infrastructure and Housing Minister Pedro Nuno Santos, TAP’s restructuring plan foresees a loss of 54 million euros this year and a profit in 2025.
Author: Lusa
Source: CM Jornal
