Portugal’s TAP airline posts half year profits (after so many years of losses)

TAP Air Portugal “achieved a net profit of €22.9 million in the first half of this year, after recording a loss of €202.1 million in the same period last year, the state-controlled flag carrier announced today. This is the first time that the airline has recorded positive results in the first six months of a year since it first began publishing half-yearly results, TAP emphasised in a statement. TAP’s net profit for the first six months of this year represents “an improvement of €225 million” on the same period last year, the statement adds. The government is focusing on selling TAP, at least in part, since buying it back at a cost of around €3.2 billion for Portugal’s taxpayers. Prime minister António Costa has admitted it will be a sale unlikely to return any kind of profit.