President of TAP discussing with trade unions cutting plan costs … – publico

                 

                         
                     

                 

 
                         

The president of TAP will receive on Thursday the eight unions which in December signed an agreement to strengthen the guarantees of workers in the event of privatization. The meeting, which is scheduled for 10 am, takes place after Fernando Pinto has presented an opinion on the company’s purchasing proposals and will serve to discuss the cost-cutting plan and the sale of the company. On Thursday there will also be weekly committee meeting is preparing the privatization.

                     

                         PUBLIC found that the meeting with Fernando Pinto was scheduled following a request of eight trade union structures, which were gathered on Monday to take stock of the evolution of TAP in recent months and the air carrier selling process, which entered this week a decisive phase. The group on Thursday will be received by the president of the company came to rely on a ninth member, the Union of Civil Aviation Pilots, who left the platform fruit of the calling of a strike ten days in May.

The meeting will take place already after Fernando Pinto have referred to Parpública, the state holding company which holds shares in TAP, the report that analyzes the strategic project of the three candidates to the purchase of the company. The deadline for delivery of the opinion, in which the company management takes a decision on the feasibility and merits of the proposals ended on Wednesday and now Parpública deal to present by Friday the government a more complete report containing an evaluation of financial nature.

In the race are the David Neeleman deals, owner of Azul Brazilian and US Jetblue, Germán Efromovich, which controls the South American group Avianca, and Portuguese businessman Miguel Amaral’s parents. The Government intends to decide on 28 May, the Council of Ministers, now chooses the winner or below to a negotiation phase, to improve the bids.

It is not certain, however, that the Parpública need to exhaust all the time given to him to complete the analysis. The committee is preparing the privatization, which include legal and financial advisors of the State, meets on Thursday. And the sale will also be discussed by the Cabinet, with, moreover, the possibility that the government has decided to open a negotiation with the candidates to improve the proposals.

The involvement of trade unions in this process It is fundamental, because candidates see with concern the labor instability that the company has experienced. Proof of this is that everyone is to include in their proposed benefits for workers: Neeleman promises to distribute 10% of profits, Efromovich raised the bar up to 20%, although this share depends on merit, and Amaral’s parents want to book between 5 a 10% stake to employees when advance to the dispersion of the capital of TAP in stock.

In addition to the privatization issue will also be discussed at the meeting between Fernando Pinto and the eight trade union structures cutting plan expenses that the government demanded the administration of TAP, especially to address the loss of 35 million euros caused by the strike of pilots. The president of the airline, who has been meeting this week with the executive, has until Friday to introduce these measures, that, contrary to what came to be reported, will not go through redundancies.