Loading
15-May-2013 1:01 PM

TAP losses halved in 2012 to EUR42m; TAP M&E Brazil continues 'negative contribution': Parpublica

TAP Portugal holding company Parpublica announced (14-May-2013) the carrier's loses nearly halved in 2012 to EUR42.2 million, down from a EUR76.8 million loss in 2011. Parpublica said the results improved "due to favourable sales, along with the continued implementation of the cost containment plan, and despite a rising fuel bill." Parpublica also noted TAP Maintenance and Engineering Brazil "continues to have a strong negative contribution to Grupo TAP results, as the company generated a loss of EUR50.2 million, but still better than 2011 when it was EUR62.7 million." Revenue from the provision of third party maintenance increased 25.2% however, to EUR114 million. Parpublica also noted the carrier's debt load was reduced by EUR200 million to EUR1.03 billion in 2011, including operating leases. [more - original PR - Portuguese]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More