TAP Air Portugal reported a net income of €37.5 million for the second quarter of 2025, dipping from €72.2 million a year prior.
The airline's operating revenue increased 1.7% to €1.1bn, driven mainly by the increase in passenger revenues, which were up 3.1%.
TAP's recurring EBITDA was €256.3 million in the quarter, with a margin of 23%.
“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,” said TAP CEO Luis Rodrigues. “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.”
In the second quarter, the airline carried 4.4 million passengers, increasing 4.5% compared to the same period last year. Capacity increased 4.8%, while load factor improved 2.3 percentage points to 85%.
For the first half, operating revenues totalled €1.96bn, down 1%, and recurring EBITDA totalled €259.2 million, down 18.3%.