The Portuguese airline was forced to ‘forget’ 20.5 million euros in order to recover the money held in Venezuela, in the order of EUR 100 million.
TAP forgave a debt to Venezuela in the order of 20.5 million euros. The amount is presented by the Public newspaper, citing the report and 2014 accounts of the Portuguese airline.
According to the publication, the carrier led by Fernando Pinto found himself obliged to forgive a portion of the debt in negotiations with Nicolas Maduro, President of Venezuela. The purpose of this boon is able to recover the money that has still retained in this country in South America, about 100.9 million euros.
The values that TAP has recovered from Venezuela are not yet, known, but the Public contends that the company achieved last year, recover 18 million, but that figure has not been confirmed or updated by the company.
Of the 100.9 million euros that TAP has ‘stuck’ in Venezuela, about 77 million relates to sales in Venezuelan territory between May and December 2013, the remaining 24 million are revenues generated between January and May last year.
The Public tried with TAP get an update of the amounts withheld in Venezuela and a confirmation that had to forgive the debt of Venezuela, but got no answer.
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