TAP Air Portugal has reported a positive net income for the fourth consecutive year. The airline has achieved operating revenue of €4.3 billion in 2025. TAP Air Portugal has carried 16.7m passengers during the year.
The carrier recorded recurring EBITDA of €742.9m with a 17pc margin and recurring EBIT of €243.4m with a 6pc margin. Net profit stood at €4.1m though recurring net income would have reached €46m without corporate income tax adjustments. Operating revenue rose by 1.2pc against 2024 driven mainly by passenger revenues and the maintenance business. Capacity increased by 3.1pc while revenue passenger kilometres grew by 5.5pc which lifted the load factor to 84.2pc.
Recurring operating costs totalled €4,070m which represented a 3.6pc increase. TAP fulfilled all operational and financial commitments under the European Union approved Restructuring Plan in 2025. The European Commission acknowledged that the required measures had been implemented and that the airline had restored its long-term viability. Liquidity stood at €765.3m as of 31 December 2025 while the Net Debt/EBITDA ratio stood at 2.6x.
Luís Rodrigues shared “TAP delivered solid results in FY25, supported by resilient passenger demand across the network, mainly in the second half of the year, and a strong contribution from our Maintenance business, which continued to increase its contribution to total revenues.”
