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TAP Portugal: Strike had direct impact of EUR21.6m on 1H2012 results

21-Aug-2012 2:04 PM

TAP Portugal confirmed (16-Aug-2012) the carrier incurred a net loss of EUR112 million in the first six months of 2012, despite a 9.3% year-on-year increase in revenue to EUR1084 million, exceeding the one billion euro mark for the first time for the first half. The carrier estimates industrial action in the sector had a direct impact of EUR21.6 million while a 20% increase in fuel costs to EUR390 million also contributed to the loss. TAP transported 4.7 million passengers, an increase of 4.7%, and increased its market share at Portuguese airports to 41.7% in 1H2012. At Lisbon Airport, the carrier's passenger traffic increased 6%, exceeding the 3.7% growth at the airport, where TAP accounts for 60% of total traffic. [more - original PR]