TAP recorded its peak net income ever in 2023
In 2023, Portuguese airline TAP recorded its peak net income ever, generating a record profit of EUR 177.3 million, an increase of EUR 111.7 million over the previous year, when a result of EUR 65.6 million had been recorded.
Operating Revenues in 2023 reached the highest value ever in the Group’s history, surpassing the EUR 4 billion mark, reaching a value of EUR 4.2 billion, increasing by EUR 730 million (+20.9 per cent) compared to 2022. This record figure and consistent growth reflect and confirm TAP’s strategic approach to market opportunities.
In 2023, TAP recorded a solid performance in financial and commercial metrics, with a Recurring EBITDA of EUR 871.6 million, with a margin of 21 per cent.
→ TAP to strengthen operations in Brazil and North America this summer
TAP ended 2023 with a robust liquidity position of EUR 789.4 million.
In 2024, the strategy to transform TAP into a structurally sustainable airline will continue to be implemented, continuously improving operations, investing in Employees and Customers, strengthening the focus on key markets and the strategy for them, capitalizing on good financial results, managing cost pressures, improving cash flow generation and continuing the deleveraging path.
“2023 strong results confirm TAP’s recovery path in recent years. Record revenues, surpassing the EUR 4bn mark, robust and resilient operating margins, and a clear deleveraging trend, confirm the financial strength of the Group”, Luís Rodrigues, TAP’s Chief Executive Officer, said.
In 2023, TAP carried 15.9 million passengers, representing an increase of 15.2 per cent compared to 2022, reaching 93 per cent of the figures achieved in 2019. Also in 2023, the total number of flights operated also increased by 11.0%, reaching 88% of pre-crisis levels.
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