TAP’s losses for 2020 “12 times worse than 2019”

Portugal’s signature airline TAP has posted losses for 2020 of over €1.2 billion – translating into roughly 12 times those of 2019. A statement by the airline has explained that passenger numbers dropped by 72.7%, ticket sales by 70.9% – while operation costs, albeit reduced massively from the past as a result of restructuring, took expenses over €1 billion.