TAP reported a net loss of 99.2 million euros in the first half, representing a 40% worsening compared to the same period last year, when it recorded losses of 71 million euros. The airline was penalized by an 18.7% increase in fuel costs, a rise driven by the war in the Middle East.
Despite the poor result, TAP managed to grow in passenger numbers and revenues. The carrier transported 8.2 million passengers between January and June, 4.2% more than in the same period in 2025, and ticket revenues grew 4.4%, to 1,829.2 million euros. Total operating revenues reached 2,039.8 million euros, a positive variation of 4.3%.
TAP's CEO, Luís Rodrigues, stated that the sharp increase in fuel prices significantly pressured the company's performance in the second quarter, explaining that the impact was felt immediately on costs, while revenue-side mitigation measures tend to materialize more gradually, since a large portion of revenue was already sold when prices rose.
The results are known at a time when Parpública is preparing to deliver to the Government the report with the assessment of the binding proposals from the Air France-KLM and Lufthansa groups for the purchase of 44.9% of TAP, in a privatization process of up to 49.99% of the airline.
