Tag Archives: TAP Air Portugal

Etihad Airways and TAP Air Portugal have agreed to a strategic codeshare

  • National carriers of UAE and Portugal team up to offer more destinations and greater choice
  • Networks of both airlines complement each other unleashing seamless travel to destinations across North and South America, Europe, Africa, and the Middle East
  • Agreement further enhances Etihad’s drive to welcome more visitors to Abu Dhabi

Etihad Airways and TAP Air Portugal have agreed a strategic codeshare, unlocking enhanced connectivity for the passengers of both airlines on a range of destinations within each other’s networks.

This agreement is the latest in Etihad’s objective to strengthen Abu Dhabi’s cultural and economic growth by welcoming more guests to its home enjoying heightened travel benefits and even more cherished experiences.

This partnership will provide Etihad’s customers with easy one-stop access to a variety of captivating destinations across the TAP network. These include iconic cities such as Rio de Janeiro and São Paulo in Brazil, as well as San Francisco and Miami in the USA.

Additionally, the enchanting African resort island of São Tomé is among the picturesque locations available through this collaboration, and customers can also connect with Madeira, Malaga, Seville, and Valencia in Europe, as well as Marrakech and Dakar in Africa.

The codeshare lets guests streamline their journeys by making a single booking with one check-in process at the start and the added convenience of having their baggage seamlessly transferred to their final destination.

Arik De, Etihad’s Chief Revenue Officer said: “This collaboration provides our guests with convenient one-stop access to 26 of TAP’s fantastic leisure and business destinations.

“Equally, it expands the choices available to TAP customers travelling from Europe to Abu Dhabi, offering them the opportunity to explore the inviting hospitality and rich culture of our home, and seamlessly connect to a selection of our destinations in the GCC and Seychelles.

“Widening our network reach, allowing more guests to visit Abu Dhabi, is an important part of our strategic growth. It allows us to further reinforce Abu Dhabi’s cultural and economic development, extending a warm welcome to more guests and offering them heightened travel privileges and unforgettable experiences.”

TAP’s Chief Revenue Officer, Mario Cruz, said: “The codeshare agreement between TAP Air Portugal and Etihad adds diversity and quality to the travelling experience that both companies offer their customers.

“The destination networks of the two airlines complement each other through this agreement, which is part of TAP’s growth and expansion strategy. We are very pleased to have reached this partnership with Etihad.”

The agreement follows the start of Etihad’s non-stop services to Lisbon earlier this year and enables both Etihad and TAP customers to connect to each other’s network through Frankfurt and London Heathrow.

As well as connecting customers to Etihad’s network, it will make it even easier to for visitors to come to Abu Dhabi with its enthralling array of attractions, ranging from the architectural masterpiece of the Louvre Abu Dhabi to adrenaline-filled adventures at Ferrari World Abu Dhabi.

The new codeshare will come into operation from December 5, 2023.

TAP reports on its performance for the first 9 months of 2023

TAP Air Portugal issued this statement:

In the first nine months of 2023, TAP once again achieved a historic milestone by generating a record net profit of 203.5 million euros.

Operating Revenues in the first nine months of 2023 have surged to EUR 3.2 billion, demonstrating a significant increase of EUR 725m (+29.7%) compared to the same period in 2022.

The first nine months have witnessed a significant performance in our financial and commercial metrics. TAP has delivered a Recurring EBITDA of EUR 752.4m, with a margin of 24%, as well as a solid Recurring EBIT of EUR 400.7m, with a margin of 13%

At the end of June 2023, TAP reimbursed the 2019-2023 Bonds, totaling EUR 200 million. There was a significant improvement in the Net Financial Debt / EBITDA ratio on 30 September 2023, reaching a level of 2.4x, marking a notable improvement on the ratio of 3.5x recorded at the end of 2022.

Luís Rodrigues, TAP Chief Executive Officer, said: “Q3 results are encouraging and validate the organisational focus of delivering a good summer to our passengers. We are moving headway to step up the robustness of our operations and the quality of our passenger service, accelerating the recovery from two difficult previous years. 

“The remarkable surge in revenues, backed by resilient operating margins and a strong deleveraging plan in place, underscores our Group’s financial strength in the face of critical challenges. On this path we rely on the commitment and dedication of all our people, to establish, together, TAP as a reference in the sector.”


In 3Q23, the number of passengers carried increased by 5.2% compared to the same period in 2022, while operating 5.7% more flights than in the third quarter of 2022 (“3Q22”). Compared to pre-crisis levels of 3Q19, TAP carried passengers reached 90% and operated flights 86%.

Capacity (measured in ASK) increased by 9.0% compared to 3Q22, reaching 95% of pre-crisis levels. The Load Factor stood at 84.8%, decreasing by 2.2 p.p. year-on-year, but 1.9 p.p. higher than pre-crisis levels.

Operating revenues increased by 12.5 % compared to 3Q22, increasing by EUR 139.5m to EUR 1,258.5m, surpassing and representing 121% of 3Q19 operating revenues. This was mainly driven by higher yields along with increased capacity.

Regarding the passenger segment revenues, they increased by EUR 179.4m (+17.9%) compared to 3Q22 to EUR 1,181.3m, generating a PRASK of EUR 8.13 cents – an improvement of 8.2% (+EUR 0.61 cents) compared to 3Q22 and 33.3% (+2.03 cents) with 3Q19.

Recurring operating costs reached EUR 982.2m, representing a 1.7% increase or EUR 16.0m rise compared to the third quarter of 2022. 

The recurring EBITDA amounted to EUR 390.7m in 3Q23, representing an increase of EUR 110.7m compared to 3Q22, and it has been positive for nine consecutive quarters since the pandemic crisis. The recurring EBIT increased by EUR 123.6m compared to 3Q22, amounting to EUR 276.3m. EBIT reached EUR 265.9m (+EUR 124.8m vs. 3Q22) when considering non-recurring items. In comparison to 3Q19, Recurring EBIT and EBIT increased by EUR 146.4m and EUR 137.4m respectively.

The net income amounted to EUR 180.5m, the highest quarterly net income since quarterly records are published, showing an improvement of EUR 69.2m compared to 3Q22 and EUR 179.4m in comparison to 3Q19.

As of 30 September 2023, despite the EUR 147.3m decrease compared to 31 December 2022, following the normal cash consuming seasonal pattern of the industry in the third quarter and the reimbursement of the EUR 200m 2019-2023 Bond, the balance sheet showed a robust cash and cash equivalents position of EUR 768.8m.

The Net Debt/EBITDA ratio significantly improved to 2.4x compared to year-end 2022 (3.5x).

Operationally, there were no changes in the network during the third quarter. In terms of the operating fleet, it comprised 98 aircraft as of 30 September 2023, where 68% of the medium and long-haul operating fleet consisted of NEO Family aircraft (compared to 66% on 30 September 2022 and 33% on 30 September 2019).

Top Copyright Photo: TAP Portugal – Air Portugal Airbus A320-214 WL CS-TNU (msn 4106) LIS (Ton Jochems). Image: 961783.

TAP aircraft photo gallery:

TAP Air Portugal announces its 2024 summer schedule

TAP Air Portugal has unveiled its summer schedule for 2024.

From March 31, 2024, the Portuguese flag carrier will continue to invest in its flagship Portugal to Brazil corridor, with an extra 11 weekly flights being added between the two countries.

The super schedule will see TAP offer 91 flights per week in peak summer connecting 11 Brazilian cities to Lisbon and Porto, reinforcing the airline’s market leading product between Brazil and Europe.

As part of the new schedule, the popular connection between Lisbon and Recife will gain three additional flights per week, bringing it to 10 times weekly, while Lisbon to Rio de Janeiro will see two additional weekly flights, bringing it to 12 per week.

The European airline will also be adding an additional weekly flight to São Paulo, Belém, Brasília, Natal, Maceio, Porto Alegre and Salvador, giving customers even more choice when heading to South America.

Flights from Lisbon to Toronto, will increase to 13 weekly, while, San Francisco, will also grow to six flights per week during peak summer, up from five in 2023.

In Africa, the airline will also increase flights from Lisbon to Maputo to four times per week, up from three, giving unrivalled access from Europe to Mozambique.

Closer to home, TAP has also expanded its European schedule, with additional nine weekly flights available to Florence and Rome.

The network expansion comes as TAP continues its path towards a sustainable long-term recovery, focusing on developing its core routes, and offering a superior customer product to international travellers.

Currently, the Portuguese airline offers 71 weekly flights from the UK to Lisbon, and 14 weekly flights to Porto, with an additional 15 weekly services also available for customers travelling between Dublin and Lisbon.

TAP flies half a million customers between Brazil and Europe over Summer 2022

TAP AIr Portugal announced customers travelling on TAP Air Portugal flights between Brazil and Europe reached more than half a million in the three months leading up to October 2022.

This represents a spectacular rise of 223% compared to the previous year, which is expected to further increase towards the end of this year.

TAP currently flies to 11 cities in Brazil across 13 routes – 9 of which cannot be reached directly from the UK.

TAP’s popular Brazilian destinations have generated high load factors which currently stand at just 15% below pre-pandemic levels and are expected to return to 2019 levels during 2023.

In September 2022 TAP operated 1,318 flights to and from Brazil flying 97% of the total number of all customers flown in 2019 between Brazil and Europe.

TAP currently offers direct flights to São Paulo, Rio de Janeiro, Belém, Belo Horizonte, Brasília, Fortaleza, Natal, Maceió, Porto Alegre, Recife and Salvador, as well as connecting Porto to São Paulo and Rio de Janeiro.

Top Copyright Photo: TAP Portugal – Air Portugal Airbus A330-941 CS-TUI (msn 1908) (100th Aircraft) LHR (Richard Vandervord). Image: 959471.

TAP Air Portugal aircraft photo gallery:

TAP’s second quarter results show strong operational and financial recovery

TAP – Air Portugal issued this financial report:

TAP is recovering from the crisis, with ASK, number of passengers and number of departures reaching between 81% and 92% of pre-crisis 2019 levels, while revenues reached 99% of their pre-crisis level in the second quarter of 2019 (“2Q19”).

PRASK increased by 80.7% and 8.5% compared to 2Q21 and 2Q19, respectively, with Load Factor increasing by 32 percentage points compared to 2Q21 to 80.4%, reaching 96% of pre-crisis 2019 levels.

There was a strong operating result in 2Q22, with positive EBIT and Recurring EBIT amounting to EUR 66.4 million and EUR 47.9 million, respectively, above pre-crisis levels.

The cumulative Net Income for H1 2022 was EUR -202.1 million, still clearly negative, but EUR 291.1 million better than in the same period of 2021 and improving quarter-on-quarter.

There is an increase in the liquidity position to EUR 889.8 million, guarding against the fact that the second semester is seasonally the largest consumer of liquidity.

Christine Ourmières-Widener, TAP Chief Executive Officer,  said: “The second quarter saw very healthy demand and higher revenue per passenger, which allowed us to offset the increase in costs. Prospects for the fourth quarter and next year remain uncertain. The execution of the restructuring plan remains key.”

An analysis of operations in the second quarter of 2022 shows that the number of passengers carried quadrupled, compared to the same period of 2021, reaching 82% of 2Q19 levels. Additionally, during this period, TAP operated more than twice as many flights as in 2Q21, or 81% of 2Q19 departures.

Capacity (measured in ASK) increased by nearly three times compared to 2Q21, with the Load Factor improving by 32 p.p. when compared to the same period of 2021, reaching 80.4%. Compared to 2Q19, ASK are at 92% and Load Factor at 96% of pre-crisis levels.

Operating revenues were almost four times higher than in the same period last year, increasing by EUR 597.4 million to EUR 830.6 million, representing 99% of 2Q19 operating revenues. This was predominantly driven by increased fares and higher capacity, resulting in an increase in passenger segment revenues by EUR 586.4 million vs. 2Q21 to EUR 740 million and generating a PRASK of EUR 6.16 cents – an 80.7% improvement compared to 2Q21 and 8.5% compared to the same quarter in 2019.

The Maintenance and Cargo areas contributed to the increase in revenues with EUR 7.8 million and EUR 7.3 million, respectively. The Maintenance area ended the second quarter with revenues of EUR 18 million, up 76.9% on 2Q21. In turn, revenues in the Cargo area amounted to EUR 67.4 million, up 12.2% compared to 2Q21.

Recurring operating costs amounted to EUR 782.7 million, increasing by 92.5% compared to 2Q21. This significant increase reflects the higher level of activity, given an ASK increase of 166.5% during this period. Compared to the same period of 2019, recurring operating costs were 4.1% lower, despite an increase in fuel costs of EUR 71.6 million.

The CASK of recurring operating costs recorded a 27.8% reduction compared to 2Q21 to EUR 6.52 cents, which also compares to EUR 6.25 cents in 2Q19 (i.e., +4.4%). Excluding fuel, the reduction in unit costs is even more visible, with CASK ex-fuel reducing by 45.4% vs. 2Q21 and 9.9% vs. 2Q19.

Fuel costs increased by EUR 217.5 million vs. 2Q21, or close to five times, to EUR 277 million. There was, nevertheless, a positive hedging effect of EUR 54.5 million, which partially offset the sharp increase in the market price of jet fuel observed during the quarter.

Recurring EBITDA, recorded for the fourth consecutive quarter a positive figure and reached EUR 156.8 million in 2Q22. This represents an increase of EUR 211.7 million compared to the same period in 2021.

Recurring EBIT reached EUR 47.9 million, an increase of EUR 221.4 million compared to 2Q21. Considering non-recurring items, EBIT was positive by EUR 66.4 million (up EUR 216.1 million vs. 2Q21). Compared to 2Q19, Recurring EBIT and EBIT improved by EUR 29 million and EUR 50 million, respectively.

Non-recurring items, predominantly related to a release of provisions due to a reduced cost estimate for litigation and settlement risks related to the closure of M&E Brazil, in total had a positive impact of EUR 18.5 million on results.

Net Profit improved by EUR 47.6 million compared to 2Q21 to EUR -80.4 million, despite the negative net impact of foreign exchange differences of EUR 58.2 million resulting from the unfavorable evolution of the Euro versus USD.

The Balance Sheet showed a strong cash and cash equivalents position of EUR 889.9 million at the end of the quarter, increasing liquidity levels compared to both 4Q21 and 1Q22.

The cash position on 30 June 2022 was more than 1.5 times higher than at the same date in 2021, reflecting an increase of EUR 347 million. The EUR 990 million contribution approved by the European Commission in TAP’s restructuring plan is still pending and is expected to be executed by the end of the year.

From an operational perspective, a total of seven destinations that were temporarily suspended were reopened (of which four are seasonal from the summer season), such as: Ibiza, Tangier, Djerba, Monastir, Alicante, Boa Vista and Caracas.

With the relaunch of Boa Vista, TAP Air Portugal resumes operations to all international airports in Cape Verde, and with the relaunch of Caracas, operations to all long-haul destinations are now restored. Regarding the operational fleet, during the quarter, TAP recorded a net increase of three aircraft to 96. On 30 June 2022, 66% of the medium and long-haul operational fleet consisted of NEO family aircraft (compared to 63% on 30 June 2021 and 27% on 30 June 2019).

First Half

Looking at the first half year-to-date, revenues reached EUR 1 321.2 million in the period, an increase of 245% compared to 1H21. Together with the higher level of activity (ASK increased by 217%), operating costs also recorded a significant increase of 73% to EUR 1 316.8 million, leading to a positive EBIT of EUR 4.4 million, an increase of EUR 381.7 million compared to 1H21.

Recurring EBIT, excluding non-recurring items of EUR -3 million, was also positive at EUR 1.4 million. Net interest and unfavorable currency developments, particularly in the second quarter, led to a Net Profit at EUR -202.1 million, still EUR 291.1 million better than in the same half of 2021 (“1H21”).

TAP aircraft photo gallery:

TAP Air Portugal sees a massive 526% increase in traffic between Europe and Brazil

"Vasco da Gama"

TAP Air Portugal (TAP) experienced a massive 526% increase in customers carried between Europe and Brazil in the first six months of 2022, compared to the previous year.

The Portuguese flag carrier flew more than 640,000 customers on more than 3,100 flights, grabbing nearly a third (28%) of the whole market share of all customers flown between Europe and Brazil.

During the first half of 2022 it operated 3,129 flights and was the third largest international airline in the number of take-offs, representing a huge increase of 130% compared to the same period in 2021.

This summer, TAP will operate 76 flights a week between Portugal and Brazil, the largest number of flights by a foreign airline flying to Brazil.

TAP connects Europe to 11 cities in Brazil from its Lisbon hub, flying to São Paulo, Rio de Janeiro, Belém, Belo Horizonte, Brasília, Fortaleza, Natal, Maceió, Porto Alegre, Recife and Salvador. The airline also connects Porto with São Paulo and Rio de Janeiro.

Currently, TAP connects Portugal with three destinations in the United Kingdom – London Heathrow, London Gatwick and Manchester – as well as offering flights to the Irish capital, Dublin.

The airline, which boasts one of the youngest fleets in Europe, currently operates a mix of short-haul and long-haul Airbus aircraft, from the state-of-the-art A330neo to the game changing single-aisle A321neoLR.

The carrier’s regional arm also operates a fleet of ATR and Embraer aircraft for those travelling a shorter distance.

Top Copyright Photo: TAP Portugal – Air Portugal Airbus A330-941 CS-TUR (msn 1943) AMS (Ton Jochems). Image: 958273.

TAP aircraft photo gallery:

TAP-Air Portugal operates its first sustainable aviation fuel (SAF) flight

TAP-Air Portugal operated its first sustainable aviation fuel (SAF) flight on July 23.

On July 23, TAP Air Portugal, in partnership with ANA – Aeroportos de Portugal and Galp has taken one more step towards a greener future, carrying out the 1st flight with sustainable fuel (SAF), between Lisbon and Ponta Delgada (Azores). This fuel allows a reduction of up to 80% in the carbon footprint, meeting International Air Transport Association (IATA)’s resolution of achieving net zero carbon emissions by 2050.

TAP-Air Portugal aircraft photo gallery:

TAP Air Portugal celebrates its 77th anniversary

On March 14 TAP Air Portugal celebrated its 77th anniversary at the Air Museum!

On this special day, the airline commemorated the reopening of a dedicated area to TAP’s history.

Here are some photos of the best moments!

Emirates and TAP Air Portugal sign MOU to expand strategic partnership

Emirates and TAP Air Portugal made this announcement:

Emirates and TAP Air Portugal have signed a Memorandum of Understanding (MOU) to expand the codeshare partnership currently in place between both airlines.

The new agreement will see customers of both airlines benefit from seamless connectivity on many new routes across the Americas, North Africa and East Asia. Emirates and TAP Air Portugal will also explore ways to enhance the co-operation on their respective frequent flyer programs including reciprocal earning and redemption opportunities and popular benefits such as lounge access.

In addition, both airlines plan on supporting each other’s stopover programs in Dubai and Lisbon, with Emirates also supporting TAP Air Portugal as it looks at potential expansion opportunities in the UAE.

Subject to required regulatory approvals, the expanded agreement is expected to come into effect from May 1, 2021, will provide customers with seamless booking, ticketing and travel benefits across 70 destinations on both airlines’ networks.

Under the expanded partnership, TAP Air Portugal will place its code on Emirates’ flights to popular East Asia destinations such as Taipei, Tokyo, Osaka, Mumbai, Delhi, Dhaka, Male, Jakarta, Denpasar, Manila, Hanoi, as well as Barcelona and Mexico City.

Emirates customers will be able to seamlessly access additional domestic destinations in Portugal, as well as TAP Air Portugal’s flights to cities in the USA, Canada, Mexico, Brazil, Senegal, Guinea-Bissau, Guinea-Conakry, Morocco, Tunisia, Gambia, and Cape Verde.

TAP announces new routes for Summer 2021

TAP Air Portugal has made this announcement:

Summer network planned based on seasonal expansion opportunities.

  • Departing from Lisbon, Zagreb, Fuerteventura and Ibiza are TAP’s new destinations in Europe.
  • TAP will fly to two new destinations in Tunisia: Djerba and Monastir.
  • Oujda is the new destination in Morocco.

TAP takes advantage of seasonal expansion opportunities to plan and strengthen its network, taking into account its strategy between Europe and the Americas, as well as Africa. For Summer 2021, the Portuguese airline plans to launch six new routes: Ibiza and Fuerteventura, in Spain; Oujda, in Morocco; Zagreb, in Croatia; and Djerba and Monastir, in Tunisia.

From June next year, TAP will offer two weekly flights from Lisbon to Ibiza and one from Lisbon to Fuerteventura, in Spain.

TAP new flights in Spain and Zagreb, in Croatia, are now available for sale. The other routes will be available from September 15th. Inaugural flights are scheduled between May and June 2021, with the exception of Zagreb, which is scheduled to start in March next year.

Ibiza, Fuerteventura and Zagreb are the new destinations in Europe

Lisbon-Ibiza flights depart on Saturdays and Sundays, departing from Lisbon at 11 am and arriving on the Spanish island at 1:45 pm, from where they return at 2:30 pm and arrive at Humberto Delgado airport at 3:25 pm.

TAP will have a weekly flight, on Saturdays, to Fuerteventura, departing at 11 am from Lisbon and arriving at 1:20 pm. In the opposite direction, flights depart at 2:05 pm and arrive in the Portuguese capital at 4:10 pm.

Between Lisbon and Zagreb, three weekly flights will be operated, on Wednesdays, Fridays and Sundays. Departures from the Portuguese capital will be at 8:00 am with scheduled arrival at the capital of Croatia at 12:05 pm.

Destinations with white sand beaches in North Africa

Tunisia will become part of TAP’s summer network next year. Djerba and Monastir are the two destinations, in Tunisia, where TAP will fly on Sundays and Fridays, respectively, departures from Lisbon at 09h25 and 10h00 and arrivals at 12h30 and 12h55 pm.

TAP will offer two weekly flights to Oujda, in Morocco, on Saturdays and Sundays, departing from Humberto Delgado Airport at 10 am and arriving on the African continent at 12:05 pm.

Cancun, Cape Town, Agadir and Santiago de Compostela with inaugural flight scheduled for 2021

It will be in 2021 that the first flights departing from Lisbon to Cancun, Cape Town, Agadir and Santiago de Compostela will take off, four destinations announced this year, which saw the start postponed due to the current situation.

The list of routes and flights will be adjusted whenever circumstances require, in view of the dynamics of restrictions and demand.

TAP Air Portugal aircraft photo gallery: