TAP Air Portugal Announces Record Results

Daniel Fowkes
25 Oct 2023
· Airlines 
TAP Air Portugal Airbus A330-941

TAP Air Portugal has announced its highest-ever quarterly net profit following strong demand.

Breaking Down The Third Quarter

The third quarter saw the company post a USD 192 million net profit from June to September.

TAP describes the result as possible thanks to solid passenger numbers. Ultimately, this equated to a 62% jump in overall third-quarter net profit.

These numbers rose to a calculated 90% of pre-pandemic figures. While still below, it represented solid, continued recovery.

Capacity also saw an increase of over 15% from 2022 for the same period when the carrier experienced strong sales.

While the past couple of years have been tough, the company hopes to build upon a strong third quarter and navigate any potential future challenges.

The TAP Air Portugal Fleet

TAP has a fleet of 78 in-service aircraft spread across all Airbus types.

This includes notably multiple entries from the A320 family, including the A310, A32, A320neo, A321 and A321neo series.

For the company’s widebody operations, it has a small fleet of Airbus A330-200s that have primarily been sidelined thanks to the arrival of the A330neo.

TAP flies a total of 19 A330-900s, making it one of the most important operators of the series so far.

Comments From TAP Executives

The 3rd quarter results are encouraging and validate the organization’s focus on executing a good summer for our passengers. We are taking solid steps to improve the robustness of our operations and the quality of the service we provide to our passengers, accelerating recovery from the last two difficult years. The significant increase in revenue, supported resilient operating margins and a strong deleveraging path, prove the Group’s financial solidity in a context challenger. On this path we count on the commitment and dedication of all our workers, in order to establish, together, TAP as a reference in the sector.

TAP Air Portugal Chief Executive, Luis Rodrigues.

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