BRUSSELS—EU competition regulators will investigate whether a 3.2–billion-euro ($3.8 billion) restructuring plan for ailing Portuguese airline TAP is proportionate and complies with EU state aid rules, the European Commission said on Friday.
The overhaul plan involves around 2,000 job cuts by 2022, pay cuts of up to 25 percent, a reduced fleet, and the sale of non-core assets.
