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TAAG predicts losses of 270 million due to the covid-19 pandemic

TAAG expects to end the economic year 2020 with a loss of 270 million dollars. The estimate, presented by Rui Carreira, CEO of the airline, is due to the fact that in the last three months the company has been practically stopped because of covid-19.

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The manager, who has worked at TAAG since 1987, revealed in an interview to Expansão that the pandemic caused a change in the operation of the company: only cargo, humanitarian and emergency flights were now allowed, with a negative impact on the accounts.

"Of course, with these restrictions there is a recipe that is no longer realized," he admitted.

In view of the current situation, Rui Carreia said that TAAG has decided to review the entire budget planned for this year, admitting that this moment is particularly difficult for the company which already has a financial history "repeatedly negative".

However, he was optimistic. He said he expected the company to have a "gradual recovery" as a slow recovery is expected due to low demand.

He also pointed out that an 'interesting and ambitious' restructuring plan was being implemented.

Rui Carreira said that the company's privatisation plan remained unchanged, adding that it would continue into 2022.

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