Second quarter with positive signs of recovery

TAP presented this Friday the Earnings Report of the second quarter and first half of 2021.

Although the Company's activity is still below pre-pandemic levels, in line with the entire air transport industry at a global level, TAP shows, in the second quarter of the year ended June 30, positive signs of recovery of the activity.

In the second quarter of 2021, TAP carried 928 thousand passengers, 136% more than in the previous quarter. The number of flights also increased by more than 100 percent compared to the first quarter, reaching a total of 12 546 departures.

In the indicators most used in the air transport industry, TAP increased by 124% the ASK (Available Seat/Km, or seats offered per km flown) and by 116% the RPK (Revenue Passenger per Kilometer).

Total revenues for the quarter amounted to 233 million euros, 83 million euros more than in the previous quarter.

In the second quarter, TAP continued the execution of the Company's Transformation Plan, with a reduction in the fleet (with the departure of older aircraft) and a reduction in operating costs. Among these, the decrease in personnel costs (-30.4%) stands out, with 722 employees leaving the company between April and June 2021.

TAP had a negative net result of -128 million euros in the second quarter, which shows an improvement of 65 percent compared to the first quarter of the year.

TAP's results disclosure notice can be read in full here.