TAP ended the first half of the year with a loss of 99.2 million euros, a 40% deterioration compared with losses of around 70 million euros in the same period last year, as rising fuel costs put pressure on the accounts.
Despite the negative net result, the company increased revenue by 4% and carried a record number of passengers in the first six months of the year, according to a statement released on Monday by the airline.
TAP carried 8.2 million passengers between January and June, 4.2% more than in the same period of 2025, operating 57.5 thousand flights, up 0.3%.
Ticket revenue rose 4.4% to 1,829.2 million euros, "reflecting the robustness of demand in TAP's strategic markets, particularly in South America and Europe", the company highlighted in the statement. Total operating revenue reached 2,039.8 million euros, a positive change of 4.3%.
The company's results were, however, constrained by the sharp increase in fuel costs due to the conflict in the Middle East. These costs rose 18.7% over the half year and accelerated in the second quarter, when they jumped 52.3%, the company said.
