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Portugal's flag carrier TAP loss hits USD50.4m in 2014
(MENAFN) Portugal's flag carrier airline TAP said it logged a net loss of USD50.4 million at 2014-end, hit by strikes and operational troubles in the second quarter, Xinhua reported.
According to the airline, the late arrival of new aircrafts, 22 days of strikes and some operational issues took a toll on the company and cost it an approximate of USD118.23 million.
In 2013, the freight posted a profit of USD37.22 million, while the posted loss in 2014 interrupted a five straight years of positive financial results, the company said in a report.
"We knew we would have a difficult year and that is what happened. Unfortunately, the results were not good," TAP President said at a press conference.
According to the airline, the late arrival of new aircrafts, 22 days of strikes and some operational issues took a toll on the company and cost it an approximate of USD118.23 million.
In 2013, the freight posted a profit of USD37.22 million, while the posted loss in 2014 interrupted a five straight years of positive financial results, the company said in a report.
"We knew we would have a difficult year and that is what happened. Unfortunately, the results were not good," TAP President said at a press conference.
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