Portugal’s TAP says hackers stole, published passengers’ personal data

Portugal’s TAP says hackers stole, published passengers’ personal data

LISBON, Sept 22 (Reuters) - Portugal's flag carrier TAP told customers on Thursday that hackers had stolen some of their personal data and published it on the dark web, although the state-owed airline said all payment details appeared to be safe. TAP said in a letter to customers the cyber attack last month obtained from its servers people's names, nationalities, email and home addresses, phone contacts and frequent flier numbers. "The release of the personal data via open sources could increase the risk of their illegal use, namely aimed at obtaining other data that could compromise the digital systems in…
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EU clears restructuring aid for Portuguese airline TAP

EU clears restructuring aid for Portuguese airline TAP

BRUSSELS (Reuters) - The European Commission said on Tuesday it had approved a 2.55 billion euro ($2.87 billion) Portuguese restructuring aid plan for TAP, along with 107.1 million euros to compensate the airline for damages suffered due to the COVID-19 pandemic. Portugal notified the Commission, which oversees competition policy in the European Union, in June 2021 of its plans to offer the aid. The Commission opened an in-depth investigation into the matter in July. European Competition Commissioner Margrethe Vestager said the measures would enable Portugal to compensate TAP for damages suffered from travel restrictions, with a restructuring plan to ensure…
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EU probes 3.2 bln euro restructuring aid for airline TAP

EU probes 3.2 bln euro restructuring aid for airline TAP

 EU competition regulators will investigate whether a 3.2-billion-euro ($3.8 billion) restructuring plan for ailing Portuguese airline TAP is proportionate and complies with EU state aid rules, the European Commission said on Friday. The overhaul plan involves around 2,000 job cuts by 2022, pay cuts of up to 25%, a reduced fleet and the sale of non-core assets. The EU watchdog said it would investigate whether TAP or market operators would provide a sufficient contribution to the restructuring cost and also whether measures would be adopted to offset any negative impact on competition. The Commission also re-adopted an earlier decision clearing…
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Pandemic-hit Portuguese airline TAP posts quarterly loss

Pandemic-hit Portuguese airline TAP posts quarterly loss

Portugal's ailing airline TAP posted on Monday a first quarter loss of 365.1 million euros ($445.1 million) due to the impact of the COVID-19 pandemic on global travel and the depreciation of the euro against the U.S. dollar. "The coronavirus pandemic continued to delay the demand recovery, with an increase in cases and new travel restrictions during the first three months of 2021," TAP said in a statement. Total operating income dropped 74% between January and March from a year ago and passenger revenue fell 83%. The airline posted a 395 million euro loss in 2020 as a whole. There…
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Portugal warns Ryanair will face consequences for opposing TAP aid

Portugal warns Ryanair will face consequences for opposing TAP aid

Ryanair’s relations with Portugal will suffer because of the Irish airline’s campaign to try to block state aid for struggling Portuguese rival TAP, Portugal’s infrastructure ministry warned. “Due to systematic hostile attacks on TAP, Ryanair should not expect an attitude of cooperation,” the ministry said in a strongly worded statement after minister Pedro Nuno Santos met Ryanair Chief Executive Michael O’Leary on Wednesday. Last week, the European Union’s second-highest court upheld Ryanair’s fight against a 1.2 billion euro ($1.5 billion) rescue loan TAP received in 2020 from the state, with the European Commission’s blessing, on the grounds that the commission…
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UPDATE: EU regulators approve 462 million euros loan for Portugal’s TAP airline

UPDATE: EU regulators approve 462 million euros loan for Portugal’s TAP airline

BRUSSELS, April 23 (Reuters) - The European Commission said on Friday it had authorised a loan of 462 million euros ($556.9 million) from the Portuguese government to airline Transportes Aereos Portugueses (TAP) to compensate for damage suffered during the pandemic. The airline, similar to others across Europe, incurred significant losses due to travel restrictions in Portugal and destination countries, the Commission said. "This measure will enable Portugal to compensate TAP for the damage it suffered as a direct result of the travel restrictions that Portugal and other destination countries had to implement to limit the spread of the coronavirus," EU…
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Portugal’s TAP may need more aid than planned in 2021, minister says

Portugal’s TAP may need more aid than planned in 2021, minister says

LISBON, Feb 14 (Reuters) - Portugal may have to provide more than the 500 million euros ($606 million) it budgeted for ailing airline TAP this year due to the worsening COVID-19 pandemic, its finance minister said. Asked how much more the Portuguese government expects to spend on TAP this year, Joao Leao told Sunday's Jornal de Negocios: "That is still being analysed". "The situation of TAP is very demanding ... that amount may have to be reconsidered because at the moment the pandemic is having a much stronger impact than expected," Leao said. In December, a government plan to rescue…
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Azerbaijan starts gas exports to Europe

Azerbaijan starts gas exports to Europe

Azerbaijan has started commercial natural gas supplies to Europe via the Trans Adriatic Pipeline (TAP), the energy ministry said on Thursday, beginning its push into the lucrative energy market dominated by Russia. Russia controls 34% of Europe's gas market and plans to raise gas exports to Europe, including Turkey, to 183 billion cubic metres (bcm) next year from the 171-172 bcm expected this year. TAP is a part of the $40 billion Southern Gas Corridor, stretching 3,500 km from Azerbaijan to Europe and drawing from Azerbaijan's giant Shah Deniz II field in the Caspian Sea. The project has the backing…
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Ryanair to challenge six state airlines in European court on State Aid

Ryanair to challenge six state airlines in European court on State Aid

Ryanair has appealed to European Court of Justice, challenging state aid given by their respective countries to SAS, Finnair, TAP, Air France, KLM, and Lufthansa. The latest appeal was filed against carrier TAP for receiving €1.2 billion aid package. Portugese news outlet Lusa reported obtaining Ryanair’s confirmation of submitting all six appeals in late July 2020. Another newspaper, Público, has also reported the confirmation. Ryanair has a history of criticism aimed at national carriers that have received state aid from their respective countries, with Irish airline’s CEO Michael O’Leary calling Lufthansa “crack cocaine junkie” for asking German government for state aid. Since…
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Portugal’s TAP to resume 40% of pre-COVID flights in September

Portugal’s TAP to resume 40% of pre-COVID flights in September

Portuguese airline TAP said on Monday it would resume 40% of its pre-coronavirus crisis operations in September, gradually restoring flights after travel demand collapsed in the pandemic. TAP was forced to suspend almost all flights in April. It started resuming some international operations in May as lockdown measures were slowly lifted but, with little demand, the airline took a step back. It is now giving it another go. TAP said it had about 500 weekly round-trip flights to various destinations scheduled for August and this was expected to rise to 700 in September. "The list of routes and flights may…
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Portugal seals final deal with TAP’s private shareholders

Portugal seals final deal with TAP’s private shareholders

Portugal's government announced it sealed a final deal with private shareholders of ailing flag carrier TAP to take a controlling stake in the airline while avoiding nationalisation. "TAP is too important for the country for us to accept the risk of letting such a company fall," Infrastructure Minister Pedro Nuno Santos told a news conference. "Fortunately we avoided TAP's nationalisation." According to the government, the state will increase its stake in TAP to 72.5% from the current 50%, with Portuguese entrepreneur Humberto Pedrosa remaining a shareholder, holding 22.5% of the airline. TAP employees will keep the remaining 5%. Pedrosa and…
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Talks on rescue loan for Portugal’s TAP airline ongoing

Talks on rescue loan for Portugal’s TAP airline ongoing

Portugal said it was negotiating with the private shareholders of airline TAP on a proposal to support the company and was prepared for all scenarios, following a media report the state was gearing up to nationalise the flag carrier. TAP's private shareholders Atlantic Gateway and the government have failed to reach an agreement over a 1.2 billion euro ($1.34 billion) state rescue loan for the airline, weekly newspaper Expresso reported. Portugal holds 50% of TAP and Atlantic Gateway has 45% of the airline, which has suffered heavy losses due to the coronavirus crisis. "At this moment, we are prepared for…
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