{"id":130456,"date":"2022-08-23T19:30:00","date_gmt":"2022-08-23T19:30:00","guid":{"rendered":"https:\/?p=130456"},"modified":"2022-08-23T22:11:14","modified_gmt":"2022-08-23T22:11:14","slug":"tap-portugal-cuts-first-half-losses-in-half","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2022\/08\/tap-portugal-cuts-first-half-losses-in-half.html","title":{"rendered":"TAP Portugal cuts first-half losses in half"},"content":{"rendered":"\n

Portugal’s TAP<\/strong> more than halved first-half losses to 202 million euros, the airline said on Tuesday, citing a strong recovery in demand after COVID-19 restrictions ended.<\/p>\n\n\n\n

Total operating revenue in the six months to June 30 more than tripled from a year earlier to \u20ac1.3 billion and passenger revenue nearly quintupled to \u20ac1.1 billion.<\/p>\n\n\n\n

TAP posted a loss of 493 million euros during the first six months of last year.<\/p>\n\n\n\n

\u2192 Portuguese airline TAP resumes its regular flights to Venezuela.<\/a><\/em><\/strong><\/p>\n\n\n\n

“The second quarter saw very healthy demand and higher revenue per passenger, which allowed us to offset rising costs,” CEO Christine Ourmieres-Widener said in a statement.<\/p>\n\n\n\n

The airline, controlled 72.5% by the Portuguese state, is under a rescue plan approved by Brussels worth 3.2 billion euros and has been forced to reduce the size of its fleet, cut more than 2,900 jobs and reduce wages.<\/p>\n\n\n\n

Under the restructuring plan, TAP must also liquidate its aircraft maintenance business in Brazil.<\/p>\n\n\n\n

\u201cProspects for the fourth quarter and next year remain uncertain. The execution of the restructuring plan remains key\u201d, added Ourmieres-Widener.<\/p>\n\n\n\n

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