TAP Air Portugal warns of ‘severe border control constraints’ hitting summer performance 

TAP Air Portugal incurred a net loss of more than €70 million in the first six months of the year ahead of facing the “most challenging summers in recent history”.  

Net income fell by €27.8 million to €37.5 million in the latest three month period despite passenger carryings rising by 4.5% year on year to 4.4 million.

This was described as being a “solid recovery” after a “challenging” first quarter.

“However, this result was not sufficient to compensate the losses incurred in the first quarter, leading to a negative net income of €70.7 million for the first half,” the carrier said.

Operating costs in the second quarter rose by €54.2 million to reach €995.2 million, mainly due to higher staff and disruption costs following a strike in the first three months of 2025. 

The airline reaffirmed a commitment to “the path of recovery, financial sustainability and structural transformation” it has been following in recent years.

The positive impact from lower interest expenses was offset by foreign exchange losses, resulting from “high volatility” in the last quarter. 

A total of eight million passengers were carried in the first six months, up 2.2% on the same period last year as the number of flights operated remained virtually stable, with growth of 0.2%. 

Chief executive Luís Rodrigues said: “After a challenging start to the year, TAP recorded a positive performance in the second quarter, with an increase in operations and revenues compared to the same period last year. 

“This dynamic translated into solid operating results, helping to partially offset the impact of extraordinary events in the first quarter and reinforcing both the resilience of our teams and the robustness of our network.”

He added: “We continue to operate in a highly competitive environment, with pressure on unit revenues and persistent operational challenges - particularly affecting punctuality. 

"Nevertheless, we recorded a year-on-year improvement in regularity during the quarter. 

“As we navigate one of the most operationally challenging summers in recent history, with severe border control constraints at domestic airports strongly impacting our activity, we remain focused on ensuring reliable operations while working to advance the national aviation ecosystem.

“As we move beyond the restructuring plan, our priorities remain clear: to transform TAP into a consistently profitable and attractive company, consolidating operational efficiency and financial sustainability.”