AviTrader sponsorship ad

TAP reports record profits of €180.5 million in Q3

Portuguese carrier TAP is being put up for sale by the government
TAP © AirTeamImages

Portugal’s flag carrier TAP Air Portugal (TAP) has posted a remarkable 62% surge in net profit for the third quarter, setting a new record at €180.5 million (US$192 million). This impressive financial performance was attributed to robust revenue growth and stringent cost controls, which significantly boosted operating margins, all while the company is gearing up for privatisation.

The state-owned airline further boasted a historic profit for the first nine months of this year, amassing €203.5 million, a stark contrast to the year-earlier loss of €90.8 million.

TAP reported that its third-quarter operating revenue climbed by 12.5% to €1,258.5 million compared to the previous year, surpassing even the pre-pandemic levels of 2019. Ticket revenue, in particular, saw an impressive 17.9% growth, reaching €1,181.3 million from 2022 levels.

The airline disclosed that passenger traffic rebounded to 90% of the numbers carried in the same quarter of 2019.

Last month, the government initiated the privatisation process for TAP, with plans to sell a minimum of 51% of the company. Notably, several major global carriers, including IAG, Lufthansa and Air France-KLM, have expressed their interest in acquiring TAP.

Quarterly operating costs experienced a slight uptick of just 1.5% compared to the previous year, reaching €978 million. This was mainly due to a significant 23% decrease in fuel costs, which nearly offset a 60.5% rise in wage costs as the company had to reverse most of the pay cuts imposed under a restructuring plan.

TAP’s recurring earnings before interest, taxes, depreciation, and amortization (EBITDA) made a leap of 42% to €380.4 million and its EBITDA margin, a crucial measure of profitability, increased to 31% from 25% compared to a year ago.

In the third quarter, the airline successfully carried 4.54 million passengers, marking an increase from the 4.32 million passengers transported during the same period the previous year.

By the end of September, net debt stood at €671 million, down from €702 million at the close of 2022. This reduction in net debt resulted in a notable improvement in the net debt/EBITDA ratio, which now stands at 2.4-times compared to the previous 3.5-times. (£1.00 = €1.15/$1.22 a time of publication).

Share this Article
Wednesday October 1, 2025
Braathens International Airways AB (Braathens) has been forced to file for bankruptcy in relation to its Airbus operations after efforts to secure fresh financing failed. The decision, taken by the company’s Board of Directors, was filed at the Stockholm Dis... Read More »
Wednesday October 1, 2025
WLFC
Willis Lease Finance Corporation (WLFC) has appointed Pascal Picano as Senior Vice President, Aircraft Leasing & Trading. Effective immediately, Picano will report directly to Chief Executive Officer Austin C. Willis and collaborate closely with Marc Pierp... Read More »
Wednesday October 1, 2025
Beyond Aero
Beyond Aero, a pioneer in hydrogen-electric propulsion for business aviation, has achieved Technology Readiness Level 6 (TRL6) for its hydrogen-electric powered aircraft. The milestone has been validated through a full-scale propulsion system test campaign in ... Read More »
Wednesday October 1, 2025
The new venture BRAVODELTA will specialise in providing strategic transactional support for complex aircraft trades
Aviation experts Bryson Monteleone, founder of BPMaero LLC and formerly with PwC Ireland, and Philip Carey, founder of Engage Aviation, have partnered to launch BRAVODELTA Aero-Ops (BRAVODELTA). The new venture will specialise in providing strategic transactio... Read More »
Wednesday October 1, 2025
Conflux is developing an advanced heat exchanger, using additive manufacturing, for Airbus’ ZEROe project
Conflux Technology (Conflux) has joined Airbus’ ZEROe project with the development of a new heat exchanger for hydrogen-electric propulsion. The component has been created using additive manufacturing and is currently undergoing a readiness assessment. It pl... Read More »
Wednesday October 1, 2025
Spirit Airlines AirTeamImages
Spirit Aviation Holdings, Inc., the parent of Spirit Airlines, is pressing forward with its Chapter 11 restructuring efforts, setting out a series of measures designed to stabilise operations and reshape the airline for the years ahead. Speaking before the U.S... Read More »
Tuesday September 30, 2025
Flexjet has ordered 300 Phantom 3500 jets © Otto Aviation
Otto Aerospace has confirmed its first fleet customer. Flexjet will serve as launch partner for the new Phantom 3500, an advanced business jet designed from the ground up for efficiency and sustainability. The Phantom 3500 is a clean-sheet creation. It applies... Read More »
Tuesday September 30, 2025
Honeywell and ITP Aero have inaugurated Europe’s first F124 engine service centre in Madrid
Honeywell and ITP Aero have officially opened Europe’s first maintenance, repair, and overhaul service centre for the Honeywell F124-GA-200 engine. The landmark facility is located at ITP Aero’s site in Ajalvir, Madrid. The launch was marked with a ribbon-... Read More »
Tuesday September 30, 2025
Minister of Civil Aviation Kinjarapu Rammohan Naidu, Christian Scherer, CEO, Commercial Aircraft, Airbus, Campbell Wilson, MD & CEO, Air India, inaugurate the joint venture facility
Air India and Airbus have opened a new pilot training centre at the Air India Aviation Training Academy in Gurugram, Haryana. The facility will train more than 5,000 pilots over the next ten years. It will support the rapid expansion of commercial aviation in ... Read More »
Tuesday September 30, 2025
PLAY Airlines has ceased operations © PLAY Airlines
PLAY Airlines has stopped flying after announcing the immediate closure of its business on Monday, September 29. The Icelandic low-cost carrier said performance had failed to match expectations. Recent months brought poor ticket sales, leaving the airline unab... Read More »
Tuesday September 30, 2025
Steve Sinquefield will retire after holding the position of Chief Legal Officer for more than ten years
StandardAero has confirmed the retirement of Steve Sinquefield, its Chief Legal Officer for more than a decade. Sinquefield will step down at the end of 2025, bringing to a close a distinguished 40-year career in aviation law. To ensure continuity, Michael L. ... Read More »
Tuesday September 30, 2025
Werner Aero has opened a new facility in Tucson, Arizona © Werner Aero
Werner Aero has announced a major expansion of its warehousing capabilities with the opening of a new 30,000 ft² facility in Tucson, Arizona. This investment lifts the company’s total warehouse space to 75,000 ft², giving it greater capacity to serve airli... Read More »
Monday September 29, 2025
The Lufthansa Group
At its Capital Markets Day in Munich, the Lufthansa Group unveiled a sweeping strategic overhaul, setting out ambitious financial targets and announcing deep job cuts as part of a push towards sharper efficiency and higher shareholder returns. The airline grou... Read More »
Monday September 29, 2025
The Board of Directors of Brussels Airlines has approved the addition of five brand-new Airbus A320neo aircraft to the fleet
Brussels Airlines will add five new Airbus A320neo aircraft to its fleet. This move brings the total number of A320neo aircraft to 13. It reflects the airline’s drive to cut emissions, improve passenger comfort and grow sustainably. The airline currently fli... Read More »
Monday September 29, 2025
Andy Schneider and Jason Berry
Alaska Air Group has unveiled major leadership changes. The moves highlight its focus on operational excellence and its people-first culture. Chief Operating Officer Constance von Muehlen will retire after nearly 15 years with Alaska Airlines. She joined in 20... Read More »
Monday September 29, 2025
BeauTech Power Systems, a global frontrunner in aircraft engine leasing, has expanded its partnership with British Airways CityFlyer (CityFlyer). The new agreement secures support for the airline’s Embraer E190 fleet through access to 14 CF34-10E engines. Th... Read More »
Monday September 29, 2025
Air Atlanta will adopt Flydocs’ Digital Records Management solution across its fleet of 17 aircraft
Flydocs has signed a five-year agreement with Air Atlanta Icelandic (Air Atlanta). The Iceland-based charter and ACMI airline will now adopt Flydocs’ Digital Records Management solution across its fleet of 17 aircraft. The partnership gives Air Atlanta Icela... Read More »
Monday September 29, 2025
CH-53K helicopter © Sikorsky
Sikorsky, part of Lockheed Martin, has secured a US$10.855 billion contract from the US Navy to build up to 99 CH-53K King Stallion helicopters for the US Marine Corps, the largest order so far for the aircraft. The five-year agreement, running from 2029 to 20... Read More »
Friday September 26, 2025
Shutterstock
AAR Corp. has acquired American Distributors Holding Co., LLC (ADI) for US$146 million in an all-cash transaction funded through its revolving credit facility. The acquisition immediately strengthens AAR’s Parts Supply segment by expanding its distribution a... Read More »
Friday September 26, 2025
IATA's study reveals that sufficient SAF feedstock exists to enable the airline industry to reach net-zero carbon emissions by 2050
The International Air Transport Association (IATA), in partnership with Worley Consulting, has published a study confirming that sufficient sustainable aviation fuel (SAF) feedstock exists to enable the airline industry to reach net-zero carbon emissions by 20... Read More »
ajw avitrader

2026 MEDIA KIT

VP Sales & Business Development Americas
Tamar Jorssen
tamar.jorssen@avitrader.com
Phone: +1 (778) 213 8543
VP International Sales & Marketing
Malte Tamm
malte.tamm@avitrader.com
Phone: +49 (0)162 8263049

Subscribe to the most widely accepted news source in the aviation industry!


Free Daily, Weekly and MRO Publications delivered to your Inbox!
News Alerts, Editorials, Marketplace, Executive Interviews +more

Select publications:

*we respect your privacy and AviTrader will not share your email address to any 3rd Parties.