Portugal’s (still) State-owned airline TAP made a loss of €71.9 million in the first quarter of the year, worse than in the same period last year, but an improvement on the pre-pandemic period, the airline said in a statement today. The company explains that, from January to March, net profit was negative €71.9 million, €14.5 million less than the first quarter of 2023. But compared to the first quarter of 2019 (pre-pandemic), the net result improved by €34.7 million. TAP is on track for sale/ partial sale albeit no announcements in this regard have recently been forthcoming.
TAP loses €71.9M in first quarter: “worse than last year”
"There are increasingly more rules to comply with, making the cost of doing business more unsupportable", says TAP CEO Luís Rodrigues.
