The airline SATA informed its workers that the Christmas bonus will not be paid in full within the usual period, having defined a phased model that distributes the amount on two different dates. Payment to all 1,600 employees will be conditioned by an extraordinary charge of 6.5 million euros, relating to the early withdrawal of a plane from the fleet, which prevents the company from complying with the traditional 14th month allocation schedule.
According to the newspaper Diário de Notícias, the need to settle this amount is related to the withdrawal of the Airbus A330 200 with registration CS TRY, carried out before the date stipulated in the contract of leasing.
According to the same source, this process involves compensation and maintenance costs before returning the aircraft, affecting the company’s treasury and, consequently, the ability to immediately pay the subsidy.
Two dates, two payments
The publication states that the SATA Board of Directors communicated to workers, by email, the new payment plan. The first installment was processed due in November and corresponded to 30% of the amount due, never less than 522.50 euros. The remaining amount will be transferred by December 15th, thus regularizing the total Christmas allowance within the calendar year.
The same source states that, in the internal message, the company regretted the constraints resulting from this decision and appealed for employees to understand the financial limitations of the moment.
Public guarantee to reinforce treasury
It explains why the Regional Government of the Azores approved last week a financial guarantee worth 10 million euros, intended to facilitate a loan that will strengthen the airline’s liquidity.
According to the same source, this support arises in a context of immediate need to cover operational commitments, which include the management of project costs. phase out of the now retired aircraft.
Payment schedule has already been defined and communicated
With the split subsidy, SATA workers received part of the subsidy in November and the rest will be delivered by mid-December. The calendar has already been defined, communicated and maintained with no changes expected, remaining dependent only on the evolution of treasury after the financial effort to withdraw the A330.
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