![]() The return to profit is timely given Portugal’s aspiration to privatise the Lisbon-based carrier. Yields, meanwhile, were roughly one-fifth higher than pre-pandemic levels.Īt an operating level TAP was also profitable, posting earnings before interest and tax of €268 million including almost €20 million of one-off gains. ![]() The airline notes load factors ran ahead of 2019 levels from July onwards. TAP’s capacity for 2022 was at 79% of pre-pandemic levels, while a load factor of 80% was just 0.1 percentage points down on 2019. TAP passenger numbers more than doubled to 13.8 million in 2022, reaching roughly four-fifths of pre-pandemic highs. The increased revenue performance in turn reflects a strong return in passenger traffic and loads last year, as well improved yields. TAP’s improved performance was achieved on a sharp jump in turnover: airline revenues of €3.49 billion were more than double 2021 levels and outstripped its sales in pre-pandemic 2019 by 6%. Portuguese government is looking to privatise Lisbon-based carrier
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