TAP Air Portugal has undergone major operational adjustments, emerging as the most punctual airline at Lisbon Airport. Under the leadership of the new administrator, Mário Chaves, a comprehensive reorganization has been implemented, resulting in notable improvements in operational efficiency, particularly punctuality. Expresso reports that TAP has achieved a punctuality rate of 64% out of 9,972 scrutinized flights.
Since 2022, the government has expressed its intention to reprivatize the company, awaiting the opportune moment in the market to proceed. This restructuring represents a crucial step towards attracting private investors.
Financially, TAP is poised for success, with anticipated revenues exceeding €4 billion and profits nearing €300 million. In 2022, TAP recorded revenues of €65.6 million.
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Despite its punctuality achievements, TAP continues to face growth limitations due to slot restrictions at Lisbon Airport. Beyond punctuality improvements, TAP confronts capacity challenges at Humberto Delgado Airport, serving Lisbon. In 2023, the airport accommodated over 33.5 million passengers, earning recognition in 2019 as Europe’s busiest single-runway terminal.
However, as the city surrounds the terminal, expansion possibilities are restricted. The government has mulled over and repeatedly dismissed the idea of constructing a new airport.
In light of these challenges, TAP is contemplating the acquisition of Airbus A350 aircraft, larger in size and passenger capacity, potentially alleviating operational constraints at the congested airport. Initially, TAP had ordered 12 A350s in the early 2010s. However, in November 2015, this contract was converted into units from the A320neo and A330neo families.
Presently, TAP operates a fleet of 80 Airbus aircraft, consisting of various models, including the A319, A320, A320neo, A321, A321neo, A330-200, and A330-900neo, of which it was the launch customer.
