TAP Air Portugal has posted a net profit for the third straight year and record revenues for 2024, adding that it is close to completing its restructuring programme.
The Lisbon-based airline reported a net income of €53.7m for 2024 and record operating revenues of €4.2bn. Last year, TAP carried 16.1 million passengers, 1.6% ahead of the previous 12 months.
Commenting on the results, Luís Rodrigues, TAP’s Executive Chairman, said: “The 2024 results confirm TAP’s recovery trajectory started in recent years. For the third consecutive year, TAP posted a positive net result, supported by the increase in revenues and the stabilisation of operating results. In addition, the continuous increase in punctuality and regularity confirms a more robust and resilient operation, recognised by our customers through the significant increase in NPS (Customer Satisfaction Index) compared to 2023.
“These results were achieved in a very challenging year, marked by a relevant increase in competition in our main markets, strong currency devaluations, operational challenges, namely in air traffic control and adverse weather events, and structural constraints, such as the aircraft limit.”
Mr Rodrigues added that 2025 will be the last year of TAP’s restructuring plan, aimed at transforming the airline into a “sustainably profitable company and one of the most attractive in the industry”.
