TAP narrows first quarter loss to 39.9 million euros
TAP reported a first-quarter loss of 39.9 million euros as revenue rose 11 percent. The carrier warned that rising fuel costs will weigh on upcoming results.
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TAP Air Portugal narrowed its first-quarter loss 63% to €39.9 million ($46.5 million) on midday Monday. Revenue rose 11% to €914 million as passenger numbers climbed 6.4% to 3.7 million. Higher fuel costs tied to the conflict in Iran now threaten TAP Air Portugal's margin recovery during its privatization process.
