Travelbiz E-Zine
27
March
2025

TAP Air Portugal announces €53.7 million net income for 2024

#Traveltradetogether

TAP Air Portugal has announced its 2024 financial results, with the airline achieving a net income of €53.7 million (£44.7 million) and record €4.2 billion (£3.5 billion) in operating revenues.

Recurring EBITDA reached €875.3 million (£729 million) during the same period, increasing 0.4% or €3.7 million (£3.08 million) compared to 2023.

Last year, TAP carried 16.1 million passengers, a 1.6% increase from 2023. The total number of flights operated decreased by 1.5% in 2024 compared to the previous year, reaching 86% of pre-pandemic levels.

As of 31 December 2024, TAP had a solid liquidity position of €651.6 million (£542 million), excluding the €343 million (£286 million) third tranche of capital executed by the shareholder on 17 January 2025. The capital injection gave TAP a net financial debt/EBITDA ratio of 2.2x.

The successful debt refinancing operation carried out in November 2024 increased TAP’s debt maturity, highlighting the airline’s disciplined financial management.

Commenting on the results, Luís Rodrigues, TAP’s Executive Chairman, said: “The 2024 results confirm TAP’s recovery trajectory started in recent years. For the third consecutive year, TAP posted a positive net result, supported by the increase in revenues and the stabilisation of operating results. In addition, the continuous increase in punctuality and regularity confirms a more robust and resilient operation, recognized by our customers through the significant increase in NPS (Customer Satisfaction Index) compared to 2023.

“These results were achieved in a very challenging year, marked by a relevant increase in competition in our main markets, strong currency devaluations, operational challenges, namely in air traffic control and adverse weather events, and structural constraints, such as the aircraft limit.”

Mr Rodrigues added that 2025 will be the last year of TAP’s restructuring plan, aimed at transforming the airline into a “sustainably profitable company and one of the most attractive in the industry”.

More information on TAP’s Q4 and full year earnings for 2024 is available here.

 

Subscribe to our E-Zine

    More

    from latest edition

    Explora Journeys – Three ships. Seventeen visionary trade partners. One bold vision.
    22nd July 2025

    Explora Journeys – Three ships. Seventeen visionary trade partners. One bold vision.

    Explora Journeys brought its Ocean State of Mind to the serene shores of Wineport Lodge, where elegance met innovation.

    Read more
    Princess Cruises Enhances Popular Premier and Plus Packages with New Benefits
    22nd July 2025

    Princess Cruises Enhances Popular Premier and Plus Packages with New Benefits

    Princess Cruises has announced updates to its Premier and Plus packages, now on sale for voyages sailing from 2026. The refreshed packages now include additions such as extra casual dining optio...

    Read more
    Irish Travellers Flock to South Africa, Mexico Riviera and UAE for Winter Sun as Long-Haul Bookings Surge – Travel Counsellors Ireland report
    21st July 2025

    Irish Travellers Flock to South Africa, Mexico Riviera and UAE for Winter Sun as Long-Haul Bookings Surge – Travel Counsellors Ireland report

    South Africa, Mexico's Riviera Maya, and the UAE have emerged as the most in-demand long-haul destinations for Irish holidaymakers seeking winter sun in 2025/26, according to new booking data fr...

    Read more
    Expedia TAAP Empowers Irish Travel Advisors with New Tools to Boost Efficiency and Growth
    21st July 2025

    Expedia TAAP Empowers Irish Travel Advisors with New Tools to Boost Efficiency and Growth

    Expedia Travel Agent Affiliate Program (TAAP) is proud to announce the launch of several new platform enhancements tailored to support Irish travel advisors. These updates are designed to stream...

    Read more
    Etihad Airways Welcomes 20 Million Passengers and over 100 Aircraft
    21st July 2025

    Etihad Airways Welcomes 20 Million Passengers and over 100 Aircraft

    Etihad gifted couple travelling from New Delhi to visit their children in Canada, with surprise upgrades to The Residence to celebrate the milestone. Etihad’s fleet reaches more than 100 aircraf...

    Read more
    Travel Trade Sparkles with Emirates & Dubai Tourism
    20th July 2025

    Travel Trade Sparkles with Emirates & Dubai Tourism

    What. A. Night! 💃🕺 The Aviva Stadium lit up last night as Anita Thomas, Country Manager for Emirates, alongside Dubai Tourism and 17 fabulous destination partners celebrated support form the I...

    Read more