2014 gross annual income of the president of TAP.
The president of TAP, Fernando Pinto, had a gross annual income of 376,000 euros in 2014, after application cuts in fixed remuneration which is 420,000 euros, according to the report and group accounts.
The Brazilian manager who arrived in Portugal in 2000 with the mission to prepare the company for privatization, received further 85,000 towards the cost of accommodation and has a ‘ceiling’ annual 9,000 euros for mobile communications.
According to the financial report released this Friday, less than a month before the date for submission of proposed the purchase of the group, Fernando Pinto has also benefited more about 70,000 euros in social benefits, with social protection, life insurance and health and personal accident insurance.
The TAP group closed 2014 with losses 85.1 million, which represents an increase of 79.2 million euros compared to 5.9 million euros in 2013, a result of the worsening provision of air transport.
Now the TAP – Maintenance and Engineering Brazil recorded a loss of 22.6 million euros, an improvement of 17.7 million euros over the previous year (45%), in what is the fourth year of a company restructuring plan which historically is responsible for the losses of the group.
In 2014, net income reflected the activity of air transport (TAP SA), which, as reported, decreased from a profit of 34 million euros for loss 46.4 million euros, explained by the delayed start-up of six new aircraft, the 22-day strike (announced or made) and other operational occurrences, including technical problems.
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