The net profit for the third quarter of the year fell by 62.8 million euros compared to the same period last year, despite having improved by 116.6 ME when compared to the third quarter of 2019, before the pandemic.
TAP’s profits fell to 117.8 million euros in the third quarter of the year, compared to the same period last year, due to the impact of foreign exchange losses, the company announced.
According to the airline, net profit for the third quarter of the year fell by 62.8 million euros (MEuro) compared to the same period last year, despite having improved by 116.6 ME when compared to the third quarter of 2019. before the pandemic.
Recurring EBITDA (profit before taxes, interest, depreciation and amortization) totaled 372 million euros in the third quarter of the year, which represents a drop of 18.7 ME (-4.8%) compared to the same period of the year. last year.
As for the results accumulated on September 30, in the first nine months of the year TAP transported a total of 12.3 million passengers, an increase of 1.5% compared to the previous year, reaching 95% of the values ​​achieved in 2019 ( pre-pandemic). The total number of flights operated decreased by 1.1% compared to the same period last year, reaching 87% of pre-crisis levels.
The airline also says that in the first nine months of the year operating revenues reached 3,252.6 ME, an increase of 2.8% compared to the same period last year and 30.6% compared to the first nine months of 2019, says a company statement.
Compared to the same period last year, the number of passengers transported in the third quarter of this year increased by 1.3%, while the number of flights operated decreased by 1.9%. Comparing with pre-crisis figures in 2019 (3Q19), the number of passengers reached 91% and flights operated 84%.
Operating revenues totaled 1,284.1 ME, increasing by 2% compared to the same period last year, reaching 123% of operating revenues in the third quarter of the year before the pandemic (2019).
Ticket revenues increased by 6.2 million (+0.5%) compared to the same period last year, reaching 1,187.5 ME.
Maintenance revenues grew by 15.8 million (+48.0%) compared to the third quarter of last year, reaching 48.7 ME, mainly due to the increase in engine workshop activity.
Cargo and Mail revenues rose 3.3 million in the third quarter of the year, to 41.3 ME, registering an increase of 8.6% compared to the same period last year.
Recurring operating costs reached 1,045.5 ME, an increase of 6.4%, or 63.3 ME compared to the same period last year, a variation that mainly results from the increase in personnel costs (+44. 9 ME or 26.3%) due to new company agreements – which only took effect in the fourth quarter of 2023, except for the agreement with pilots, which came into force in the third quarter of last year – and the increase in depreciation and amortization (+ 19 ME or 16.6%).
These increases were partially offset by the decrease in traffic operating costs (-19.7 ME or 7.4%).
