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TAP finally set to fly out of the red

TAP, Portugal’s flagship airline – now under private management though still technically ‘State-owned’ – is set to fly out of its financial blues, even this year.

The company’s director of communications António Monteiro has made the claim following first-term losses of €28.2 million.

As tabloid Correio da Manhã explains, this may sound like bad news but it compares “very favourably” to the €109.6 million posted in 2015 – and the second term, “particularly the months of July, August, September and December”, is “typically much stronger” than the first.

Also, the recent fall in the price of fuel has helped, he said.

Logistically, too, the airline has cut down on what it called “loss-making routes”.

Passenger numbers on flights between Porto and Lisbon are “up 66%”, said Monteiro, while flights to the US have seen a 64% increase.

All in all, 2017 looks like the moment when TAP will start flying on an even keel.