TAP recorded a loss of 99.2 million euros in the first half, a worsening compared to losses of around 70 million euros in the same period of the previous year. The company explains that the sharp increase in fuel costs, which grew 18.7% in the first half and accelerated 52.3% in the second quarter, significantly pressured the airline's accounts.
Despite the negative net result, the carrier achieved positive operating results. Operating revenues grew 4.3% to 2,039.8 million euros, while ticket revenues advanced 4.4% to 1,829.2 million euros. TAP transported 8.2 million passengers in the first six months, 4.2% more than in the same period, a record number, and operated 57.5 thousand flights.
Traffic grew 5.9%, above the 1.7% increase in capacity, which allowed the occupancy rate to rise to 85.4%. The company also strengthened its financial position through a bond issuance of 350 million euros, ending June with 1,222.1 million euros in cash.
The results come in the context of progress in the partial privatization of TAP, with Air France-KLM and Lufthansa submitting binding offers to purchase 44.9% of the capital. Executive President Luís Rodrigues highlighted that the performance demonstrates the robustness of the business model and that TAP is now beginning a new chapter with a strategic plan for the next decade.
