TAP in crisis without parallel

Portugal’s national carrier TAP, in the year the airline celebrates its 75th anniversary, is facing a “crisis without parallel” according to its Executive President Antonoaldo Neves.

He said that the crisis was caused by the Covid-19 pandemic, pointing to the negative consequences on the financial health of the airline industry as a whole as the European border lockdown looks set to continue for a sustained period of time.
The day in which TAP celebrated its 75th anniversary and which should be one of “celebration and partying” has instead become one of “concern and uncertainty” caused by Covid-19, a pandemic which has created “a crisis without parallel” said the company’s CEO in a round-robin message to staff.
In the message, Antonoaldo Neves emphasises that: “apart from the profound consequences on the airline industry and tourism,” the novel coronavirus has caused “a crisis with a strong impact on the health of peoples and economies on a global level.”
The company’s rescheduling operation of flights following advice from the national health authorities and governments in countries to which the airline flies, has required “everyone to make an extra effort” says the TAP CEO, adding that: “a joint effort” is vital to overcome difficulties and get back to normal”.
Moreover, he warns that the challenges TAP faces going forward are “huge,” while it is important to “safeguard the interests of shareholders, both public and private, and staff, while stating that as TAP is “the most important national company” it has a duty to “defend the interests of Portugal.”
Antonoaldo Neves stresses that he is aware that “sacrifices won’t end the moment that everything goes back to normal” and that “a return to normal demand levels will be needed, without forgetting the negative consequences on the financial health of the industry if the crisis drags on for a long time.”
Nevertheless, the company says it is committed to continuing its long-term strategy as soon as possible, namely renewing and growing its fleet, increasing the number of its destinations and improving its service.