TAP’s loss worsened in the first three months of the year when compared to 2023. Still, it is an improvement in relation to the data presented in 2019.
TAP posted a loss of 71.9 million euros in the first quarter of the year. According to the airline’s financial report, this is an increase of 14.5 million euros compared to the same quarter of the previous year, when there was a negative value of 57.4 million euros. In other words, TAP’s losses worsened in January and March 2024.
Still, when compared to the first quarter of 2019 (pre-Covid-19 reference), there is an improvement of 34.7 million. Between January and March 2019 it had recorded a loss of 106.6 million euros
Operating revenues totaled 861.9 million euros, which reveals an increase of 3.1% compared to the same quarter in 2023. This value exceeds and represents 140% of the operating revenues obtained in the first quarter of 2019, being boosted revenues from the passenger segment.
In turn, recurring operating costs stood at 905.2 million euros, which represents an increase of 7% (59.1 million) when compared to the first three months of 2023. “This variation mainly results from the increase personnel costs due to new company agreements, offset by reduced fuel costs due to a lower price than jet fuel this quarter compared to the first quarter of 2023″, maintains the company in the report.
