Portuguese national carrier with losses of 30 million euros in first six months

31 July 2007

Lisbon, Portugal, 31 July – TAP Air Portugal made losses of 30 million euros in the first six months of the year, an improvement of 41 percent in an annual comparison, the company has announced.

TAP said Monday that its net first-half results showed “an improvement of 21 million euros,” from a negative 52 million euros last year to “negative 30 million euros in 2007, a positive change of 41 percent.”

TAP’s board of directors said that despite “a great challenge”, it remained determined to achieve net results of 37.9 million euros, the goal defined by the state for 2007.

TAP registered a “substantial improvement” in all indicators in the first six months of the year, with operation profits hitting a “record” 806 million euros, up 11.4 percent from the 737.7 million euros achieved in the same period of 2006.

Between January and June, TAP carried 3.35 million passengers, up 6.9 percent from 2006. This growth was most notable on routes to Africa, 16 percent, the United States, 21 percent, Brazil, 12.2 percent, and Europe, 7.7 percent. (macauhub)