Tame has no money to pay for pensions

Ecuadornews:

Everything is red. The numbers of the state company Tame uncover the obvious: its situation is unsustainable if urgent changes are not made. The state airline authorities ask for government intervention to discontinue routes, pay debts and subsidize flights.

Eight days in the general management of the airline were enough for Octavio Pérez to decide to make transparent the accounts of the company before the Economic Development Commission of the Legislature, yesterday. There, he assured they are assessing the functions of 1,400 employees. The problem, he admitted, is that there are no resources to pay for contract settlements and pensions in case of layoffs.

The alternative proposed by the new manager is that the government and the municipalities subsidy those frequencies to keep them alive. He understands that the Amazon route, for example, fulfills a social rather than a commercial purpose.

The debts, in addition, exceed 194 million dollars. The main creditor is Petroecuador with 103 million for fuel. (I)

Source: http://www.expreso.ec/economia/tame-no-tiene-como-pagar-las-jubilaciones-EL1827475