By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Starr FmStarr FmStarr Fm
  • Home
  • Election Hub
  • General
    GeneralShow More
    Energy Minister cuts sod for Anwomaso-Ahodwo GRIDCo transmission project in Kumasi
    July 8, 2025
    Azumah Resources acquisition: Claims of political influence false, agreement reached in 2023 – E&P
    July 8, 2025
    Mahama holds fire on Chief Justice decision, awaits probe committee report
    July 8, 2025
    Ghana’s gold now powers cedi stability – President Mahama
    July 8, 2025
    No licence, no gold: Mahama warns traders and foreigners alike
    July 8, 2025
  • Business
    BusinessShow More
    Ghana’s gold now powers cedi stability – President Mahama
    July 8, 2025
    VRA sets the benchmark in African public procurement
    July 8, 2025
    IMF Executive Board approves $370 million disbursement for Ghana
    July 7, 2025
    From Nima to the World: Lord Ibrahim Sani’s Billion-Dollar Vision for Africa
    July 7, 2025
    DVLA begins 24-hour service at Tema and Takoradi Ports
    July 4, 2025
  • Politics
    PoliticsShow More
    Azumah Resources acquisition: Claims of political influence false, agreement reached in 2023 – E&P
    July 8, 2025
    Mahama holds fire on Chief Justice decision, awaits probe committee report
    July 8, 2025
    Mahama vows swift action against misconduct in GoldBod Task Force
    July 8, 2025
    Chief Justice Torkornoo has sued government at ECOWAS Court – Deputy AG
    July 8, 2025
    EC’s bizarre decision undermines democracy – Ishaq Ibrahim
    July 8, 2025
  • Entertainment
    EntertainmentShow More
    I took a pause to gather strength- Kwesi Slay
    July 8, 2025
    Kinaata questions TGMA credibility over ‘Record of the Year’ snub
    July 7, 2025
    Ghana grows movie premiere ignites new thinking among youth in Ashaiman
    July 7, 2025
    “I will feature Sarkodie at the right time” – Kofi Kinaata
    July 6, 2025
    Cultural Heritage: Preserving what cannot be stored
    June 29, 2025
  • Sports
    SportsShow More
    Agbodza: Mahama’s Big Push Agenda kicks off this month
    July 8, 2025
    Julius Debrah backs Mahama’s vision to develop grassroots sports talent
    July 8, 2025
    Black Queens fall to South Africa in WAFCON 2024 opener
    July 8, 2025
    Investment made on Borteyman Complex land is wasted – Sports Minister
    July 7, 2025
    Ghana Esports League officially launched to elevate competitive gaming
    July 6, 2025
  • Technology
    TechnologyShow More
    Real Quantum Dot Technology in Samsung QLED TVs
    June 29, 2025
    GCAA and South Korea sign deal to advance Ghana’s Drone sector
    June 25, 2025
    Onafriq, PAPSS partner to launch cross-border payment services in Ghana 
    June 20, 2025
    Yellow Card, Visa partner to accelerate stablecoin adoption across emerging economies
    June 19, 2025
    Samsung takes Galaxy Z Series to a new era
    June 18, 2025
  • International
    InternationalShow More
    The end of USAID is not catastrophic for Africa – Dr. Brian Reuben
    July 8, 2025
    Mahama underscores strong Ghana-Germany partnership
    July 8, 2025
    Pure Earth president to lead delegation to Ghana for pollution mitigation mission
    July 7, 2025
    Liverpool’s Diogo Jota dies in car crash in Spain
    July 3, 2025
    Indian Prime Minister conferred with Ghana’s highest national honor
    July 3, 2025
  • Factometer
Search
© 2024 EIB Network Ltd. All Rights Reserved.
Reading: TAP posts €34m net profit in 2016
Share
Notification Show More
Font ResizerAa
Starr FmStarr Fm
Font ResizerAa
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Search
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Have an existing account? Sign In
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
Business

TAP posts €34m net profit in 2016

Starrfm.com.gh By Starrfm.com.gh Published March 1, 2017
Share
SHARE

TAP posted a net profit of €34 million in 2016. The airline’s return to profit was possible despite a fall in revenue to €2.242B, €156M lower than the €2.398B recorded in 2015. However, this fall was more than compensated for by substantially reduced operating costs, which at €2.042B were €227M lower than in 2015.

Capitalization by the new shareholders allowed the year to be marked by strong investment in the company, especially with the creation of TAP Express and the complete renewal of the regional fleet – which from being one of the oldest is now the youngest operating in continental Europe, the launch of the Ponte Aérea between Lisbon and Porto, the continuing retrofitting of the Airbus fleet, the launch of programs such as Portugal Stopover, NPS – Net Promoter Score and “Listen to the Client”, and the revolution in the digital relationship with the client, and the company’s new website in particular.

2016 was also marked by the launch of the company’s planned expansion in the North American market with new routes to Boston and New York JFK while increasing the number of flights each week to Newark and Miami, more than doubling the airline’s weekly service to the United States.

TAP also introduced its new fare structure in 2016, with very competitive prices and offers designed for the client and which is allowing the company to recover its market share.

Following a first half-year in which the company readjusted its services and with a continuing slowdown in some of its most important markets, there was a strong recovery in the second half, which included consecutive new records in October, November and December in the number of passengers carried. This trend has continued at a greater rate during the first months of 2017.

In fact, with a renewed fleet, a new fare structure, new routes and products and a greater focus on the clients and their needs, in 2016 TAP carried a record 11.7 million passengers – 400,000 more than in 2015. And all this in a year in which the company cut the number of available seats by 3%.

You Might Also Like

Ghana’s gold now powers cedi stability – President Mahama

VRA sets the benchmark in African public procurement

IMF Executive Board approves $370 million disbursement for Ghana

From Nima to the World: Lord Ibrahim Sani’s Billion-Dollar Vision for Africa

DVLA begins 24-hour service at Tema and Takoradi Ports

TAGGED:profittap portugal
Share This Article
Facebook Twitter Email Print
Share
Previous Article PODCAST: Starr Mid-day News – March 1, 2017
Next Article Teachers angered by GNAT’s increased mutual fund deductions

Starr 103.5FM

Starr FmStarr Fm
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
newsletter icon
Join Us!

Subscribe to our newsletter and never miss our latest in news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?