TAP Air Portugal surpasses 16 million passengers in 2024: Growth led by Brazil and North America
TAP Air Portugal transported 16.1 million passengers in 2024, a 1.6% growth compared to the previous year, driven by record numbers on routes to North America and Brazil. With an 82.3% load factor and improved profitability, the airline's performance highlights its strategic value ahead of privatization, attracting interest from Lufthansa, Air France-KLM, and IAG
TAP Air Portugal transported 16.1 million passengers in 2024, representing a 1.6% increase over 2023. This growth was driven primarily by long-haul routes to North America and Brazil, which remain key strategic markets for the airline.
Growth led by North America and Brazil
On North American routes (United States and Canada), TAP carried a total of 1.59 million passengers, an 8.9% increase compared to the previous year. This market emerged as the airline's fastest-growing segment in percentage terms within its network.
The Brazilian market also played a pivotal role in TAP's performance in 2024. The airline set a new record by exceeding two million passengers transported between Brazil and Europe, a 7.1% increase over 2023. This achievement included the addition of new destinations, such as Florianópolis and Manaus, further strengthening transatlantic connectivity and highlighting Brazil's strategic importance for the airline.
Results by region
• Africa: Routes to and from Africa saw a slight decline of 0.1%, with 1.1 million passengers transported.
• Madeira and Azores: Operations to Madeira recorded 983,000 passengers, a 3.3% increase, while routes to the Azores transported 527,000 passengers, a 1.3% increase over 2023.
• Europe (excluding Portugal): Flights to the rest of Europe experienced a 0.9% increase, reaching a total of 8.8 million passengers.
Operational efficiency and financial results
The Load Factor rose to 82.3%, an increase of 1.5 percentage points compared to 2023, demonstrating better capacity management. Additionally, seat supply measured in ASK (available seat-kilometers) grew by 1.6%, while revenue per seat measured in RPK (revenue passenger-kilometers) increased by 3.4%, reflecting improved profitability in operations.
Preparations for privatization
TAP's positive results in 2024 are especially significant as the airline prepares for its upcoming privatization. The company has drawn interest from major international aviation groups, including Air France-KLM, IAG (owner of British Airways), and Lufthansa. TAP’s strategic position in traffic between Europe and Latin America makes it a highly attractive prospect for these companies, further emphasizing its value in the global aviation industry.
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