After having posted the worst result ever in 2021 with a historic loss of 1,599.1 million euros, TAP was able to turn the accounts green a year later. The airline reported a profit of €65.6 million in 2022, an improvement of €1,664.7 million compared to the previous year. said this Tuesday, 21, the airline in a statement.
It is the first time in five years that the company’s accounts are positive – the last profit dates from 2017.
TAP thus brought forward the objectives of the European Commission’s restructuring plan by two years, which stipulated that the listed company would not return to profit until 2025, indicating a loss of EUR 54 million for 2022.
“During the fourth quarter of 2022, TAP was able to generate the highest quarterly revenue in its history and posted record profits despite ongoing operational challenges. During the first full year of the restructuring plan, TAP generated an operating profit that is a historic record for TAP and also generated a very strong positive net profit, taking into account its leverage,” emphasizes the CEO, Christine Ourimières Widener, who announced his statement at the end of the month. down function.
Recurring EBITDA (earnings before interest, taxes, depreciation and amortization) was positive for the year and totaled 777.7 million euros, compared to the -899 million euros recorded in 2021.
The operating result, measured by EBIT, was also positive, at 288.2 million euros (-478 million euros in 2021). The company’s revenues have already improved by 151% compared to 2021, totaling 3,485 million euros.
The increase in passenger numbers and flights operated helped the company recover its accounts. In 2022, TAP carried 13.8 million passengers (+136.1%), reaching 81% of the 2019 level.”The number of flights operated also increased significantly last year by 74.9%, reaching 79% of its pre-crisis level,” the company said.
Updated
Source: DN
