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Portugal seeks EU approval to save national airline
By EUobserver
The Portuguese EU presidency has said it was confident the European Commission would approve its state-rescue of national airline TAP by the end of March, Reuters reports. "The main concern of the plan is to make the firm sustainable," Portuguese finance minister Joao Leao said. The airline needed €2bn in extra funds to survive. It also needed 2,000 job cuts and pay-cuts of 25 percent, Portugal earlier said.