TAP Air Portugal Reports Full Year 2024 Net Profit of €53.7 Million
- Joe Breitfeller
- Mar 26
- 2 min read
TAP Air Portugal has reported a full-year 2024 net profit of €53.7 million on revenue of over €4.2 billion. This is the carrier’s third consecutive positive annual result. At December 31, 2024, TAP had liquidity totaling €651.6 million.
On Wednesday (March 26, 2025), TAP Air Portugal reported their full-year financial results for the period ending December 31, 2024. The carrier reported a full-year net profit of €53.7 million on a 0.7 percent year-over-year increase in revenue to a record €651.6 billion. Tap’s full-year passenger revenue per available seat kilometer (PRASK) declined 2.3 percent compared to the same period last year to 7.13 euro cents, while cost per available seat kilometer (CASK) decreased 0.7 percent to 7.20 euro cents. Costs excluding fuel (CASK-ex) increased 2.1 percent compared to FY2023 to 5.25 euro cents. At December 31, 2024, TAP Air Portugal had liquidity totaling €651.6 million, excluding the third tranche of capital of €343 million, executed by the shareholder on January 17, 2025.
In Wednesday’s announcement, TAP’s Executive Chairman, Luís Rodrigues, said,
“The 2024 results confirm TAP’s recovery trajectory started in recent years. For the third consecutive year, TAP posted a positive net result, supported by the increase in revenues and the stabilization of operating results. In addition, the continuous increase in punctuality and regularity confirms a more robust and resilient operation, recognized by our customers through the significant increase in NPS (Customer Satisfaction Index) compared to 2023.
“These results were achieved in a very challenging year, marked by a relevant increase in competition in our main markets, strong currency devaluations, operational challenges, namely in air traffic control and adverse weather events, and structural constraints, such as the aircraft limit.“
2025 will also be a challenging year, but also the last year of the restructuring plan, in which we will continue to focus on transforming TAP into a sustainably profitable company and one of the most attractive in the industry, with the support and commitment of our people and our stakeholders.”
During 2024, TAP carried a total of 16.1 million passengers, an increase of 1.6 percent compared to the previous year, and 94 percent of the pre-pandemic levels in 2019. Revenue for TAP’s MRO business increased year-over-year by 45 percent to €237 million, providing a significant contribution to the carrier’s full-year financial result.
Source: TAP Air Portugal
