TAP CFO tenders resignation as monies owed to passengers for cancelled or disrupted flights hit €8M

The Ministries of Finance and Economy, Housing and Infrastructure announced on Friday that that TAP CFO João Weber Gameiro has tendered his resignation.

Under applicable laws in Portugal, it means that he must cease all administrative functions at the troubled airline by 31 October.
The administrator told the government that he regretted that he would have to resign for reasons of an “unforseeable personal nature”.
The Government has now begun the process to select a new financial officer for TAP at least until the end of the current executive board’s mandate.
Until then, Gameiro’s job will be filled by Gonçalo Monteiro Pires who is a member of the Board of Directors.
The outgoing director of the airline’s accounts had only been in the job for three months. The resignation has been informed to the Portuguese stock market commission CMVM.
João Weber Gameiro joined the management board as CFO at the end of July at the same time as new CEO Christine Ourmières-Widener took the helm at the airline which is 70% state-controlled but around €2Bn in debt.
Gonçalo Neves da Costa Monteiro Pires will take up the position of CFO from 15 October 2021.
Meanwhile RTP Notícias reported over the weekend that TAP had received 2 million complaints regarding a €676 million debt.
The avalanche of complaints comes mostly from passengers who have lost out because of flights cancelled during the pandemic.
The compensation owed amounts to some €676 million which the airline says it has now drastically reduced.
But based on data provided by the airline to the current affairs programme ‘Sexta às 9’ the monies owed to TAP passengers could actually stand at €8 million.