TAP to close (loss-making) maintenance and engineering offshoot in Brazil

Impelled by Brussels, TAP has announced that it will be closing its loss-making maintenance and engineering operation in Brazil. In making the announcement today, CEO Christine Ourmières-Widener said the decision followed “profound analysis and many studies”. Commentators have said the writing has been on the wall for years. The closure will be ‘gradual’, says Ms Ourmières-Widener, and has been forced by conditions regulating the approval of a €2.55 billion ‘restructuring package’ (click here).