As part of the restructuring plan approved by the European Commission on 21 December 2021, the TAP Group has decided to close down the operations of TAP Manutenção e Engenharia Brasil S.A. ("TAP ME").
The measure, however, does not interfere with the Company's passenger air transport operations in the country, its main overseas market. Brazil represents between 25% and 30% of the revenue of the Company, which continues to increase its offer in that market, with a presence in 11 capital cities and expectations of expansion of the number of weekly flights.
The liquidation process of TAP ME, will proceed as follows:
- Maintenance services relating to aircraft already contracted and/or in progress will be carried out normally, in accordance with the contracts between TAP ME and its customers;
- TAP ME will not accept new orders for maintenance services.
Only upon completion of the ongoing maintenance services or of those already contracted will TAP ME cease its activities.