TAP Air Portugal makes a profit of 80 million euros in the second quarter

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TAP Air Portugal cleared a profit of 80.3 million euros in the second quarter, compared to a loss of 80.4 million over the same period last year.

Over the entire first half, its profit amounted to 22.9 million, compared to a negative result of 202.1 million euros a year earlier. Over this period, its turnover reached 1.9 billion euros (+44.3%) and gross operating surplus (EBITDA) 361.7 million (+69%).

During top six of the yearTAP Air Portugal transported 7.5 million passengers, an increase of more than 30% over one year, which “represents 96% of 2019 levels”, before the period marked by the Covid-19 pandemic. The Portuguese airline, whose difficulties had increased with the Covid-19 pandemic, was completely renationalized urgently in 2020, in exchange for the application of a rescue plan costing 3.2 billion dinars. ‘euros.

The half-year results for 2023 “higher than the objectives of the restructuring plan, prove the financial viability of the group”, declared general manager Luis Rodrigues, adding that “there is still a long way to go”. Indeed, the Lisbon government plans to partially privatize the public company. A privatization which arouses the interest of European airline groups, including Air France-KLM, IAG (parent company of British Airways and Iberia) and even Lufthansa Group.

John Walker Avatar