The first-semester losses compare to a profit of 400,000 euros in the same period of 2024, while the second-quarter profit shows an improvement against the negative 108.2 million euros from the first three months of the year.
TAP reported that in the first half of the year, the company transported a total of eight million passengers, marking a 2.2% increase compared to the first six months of 2024. The number of operated flights remained almost stable, with a year-over-year growth of 0.2%.
Capacity increased by 2.3% compared to the first half of 2024, with operating revenues totaling 1.9552 billion euros, a decline of 1%.
The recurring EBITDA (earnings before interest, taxes, depreciation, and amortization) reached 259.2 million euros in the first six months of the year.
During the second quarter, operating revenues increased by 1.7% compared to the same period last year, totaling 1.1317 billion, driven mainly by a 3.1% rise in ticket revenues, TAP stated. The recurring EBITDA reached 256.3 million euros.
In the second quarter, TAP transported 4.4 million passengers, an increase of 4.5% compared to the same period last year.
“We continue to operate in a highly competitive environment, with pressure on unit revenues and ongoing operational challenges – particularly affecting punctuality. Nevertheless, we recorded a year-over-year improvement in regularity during the quarter,” said TAP’s CEO, Luís Rodrigues.
“As we navigate one of the most operationally challenging summers in recent memory, with severe constraints on border control at national airports, significantly impacting our activity, we remain focused on ensuring a reliable operation, working towards advancements in the national aviation ecosystem,” he emphasized.
The TAP reprivatization process was formally initiated on July 10 with the approval of the decree-law establishing the terms of the operation. The next step involves approving the terms of reference which will define the technical, legal, and administrative criteria for the sale.
Concerns are raised regarding the interpretation of certain clauses, particularly eventual operations regarding TAP’s assets, changes to the capital structure in the context of the tender, and issues related to TAP SGPS’s insolvency.
Notícias ao Minuto with Lusa | 08:58 – 08/08/2025
The decree-law for the reprivatization of 49.9% of TAP allows the private investor to acquire more than 44.9% of the company by purchasing what the workers do not buy from the 5% reserved for them, as detailed in the document published in the Diário da República on August 14.
