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TAP strike might cost company mln euros per day, say airline's head

Xinhua, April 28, 2015 Adjust font size:

A ten day strike planned by pilots at flag carrier TAP will cost the company "a million euros per day in cancellations of reservations," the airline's head Fernando Pinto said on Monday.

Fernando Pinto said the company had not managed to convince pilots to cancel the strike and said it was "extremely serious."

"Throughout this process, which lasted from midnight on Friday, the pilots' response is that they wouldn't go back on their decision to hold a strike," TAP President Fernando Pinto said at a press conference in Lisbon.

Pilots recently threatened to stage a strike from May 1 to May 10 to demand a stake of up to 20 per cent in the company when it is privatized.

After several days of failed negotiation, the Pilots of Civil Aviation Syndicate (SPAC) on Monday accused TAP of being "completely inflexible in the negotiations."

Portugal took on a privatization program to reduce its debt load, as part of a 78 billion euro bailout program the country signed in 2011 with the European Commission, International Monetary Fund and European Central Bank when it was on the verge of bankruptcy.

TAP is now in the process of selecting a bidder to sell off a 66 per cent stake of the company, which employees fear could lead to job losses. Endit