"TAP has achieved savings of 1.3 billion Euros by 2025 with all the negotiations from a fleet point of view and, from a supplier point of view, is guaranteeing a projection of between 200 and 225 million Euros a year also in savings," said Ramiro Sequeira, who is being heard in the Portuguese Parliament, at the Economy, Innovation, Public Works and Housing commission, at the request of the PSD and the Liberal Initiative.

Specifically with aircraft manufacturer Airbus, Sequeira noted that the delivery of 15 aircraft had been renegotiated, postponed to 2022 and then to 2025.

"This exercise was extremely important for TAP's accounts, because we are talking about a billion Euros," he said.