"The information released by TAP in the statement of February 4, 2022 was not true, as it was inconsistent with reality, as it did not mention the agreement concluded between TAP and Alexandra Reis and the desire of both to terminate existing contractual relations, following a negotiation process initiated by TAP, and was not clear, as the use of the expression 'waiver' corresponds to an equivocal term, which did not allow recipients of the information to know the reality immediately, namely the existence of a signed agreement between TAP and Alexandra Reis".

Therefore, "taking into account the circumstances of the specific case, the CMVM Board of Directors has decided to impose a fine of €50,000 (fifty thousand euros) on the Defendant".

In February 2022, TAP informed the CMVM of the departure of administrator Alexandra Reis, referring to the airline that Alexandra Reis had resigned from her position.

Last December, Alexandra Reis took office as Secretary of State for the Treasury, and controversy then broke out over the compensation she received when she left the state-owned airline (500 thousand euros).