The number of passengers carried by TAP Air Portugal reached 92% of pre-Covid levels and the number of flights operated to 87% in the second quarter of the year.
Net profits fell by €8.1 million year-on-year to €72.2 million, impacted by foreign exchange losses following the depreciation of the Brazilian Real, offsetting operating gains.
However, the level improved by €77.6 million compared to the equivalent three months in pre-pandemic 2019 as the airline operated 99 aircraft.
The saw TAP record a first half net profit of €400,000 million due the positive second quarter performance net profit offsetting negative net income in the first quarter.
Bookings remain in line with the previous year in the second half of 2024, “although with some pressure on yields”.
The focus on the Brazilian market will grow, with the launch of a new route to Florianopolis, and the reopening of another to Manaus, increasing the network to 13 destinations via 15 routes.
Chief executive Luís Rodrigues said: “In the second quarter of 2024, we continued the necessary path of structural transformation of TAP.
“The investment in people and operations continues to confirm the focus and show results – a significant reduction in disruptions, the continuous increase in punctuality and regularity, and the increase in NPS (the customer satisfaction index), with consequent growth in revenues.
“The strong performance in the second quarter allows for a positive net result in the semester, which, despite being reduced, is achieved for the second consecutive time, but now without salary cuts.
“We continue on the path we set out to follow, with the commitment of our people and the support of our stakeholders: to establish TAP as a sustainably profitable company and one of the most attractive in the industry.”