TAP WITH POSITIVE RESULTS FOR THE FIFTH CONSECUTIVE YEAR

In 2013, TAP reached a Net profit of 34 million Euro, which, when compared to 2012, shows an improvement of 42 per cent. Therefore, this was the fifth consecutive year with TAP achieving positive financial results.

In parallel, the company’s net debt decreased from 791 million to 585 million EUR in 2013, thus decreasing from as much as 32 per cent to 24 per cent of the company’s total Revenue. The total debt, which had its peak in 2008 with 1,270 million Euro went on decreasing consistently since then, reaching the amount of 842 million Euro by the end of 2013, that is to say, reducing in 428 million Euro.

The 2013 Net profit resulted from the overall growth of the company, which carried some 517,000 passengers more than in the year before, thus reporting a record number of 10.7 million passengers carried on its system-wide network last year.

However, TAP managed to keep, in 2013, its ASK (available seat Km) unchanged and at the same level of 2012, whereas the demand (RPK - Revenue Passenger Km) responded with a growth of 3.4 per cent, thereby translating into a significant improvement in the company’s load-factor, which went up to 79.4 per cent (from 76.8 per cent in 2012), that is to say some 2.6 percentage points above.

Total Revenue in 2013 was up to 2,480 million EUR, with Passenger Revenue reaching 2,217 million EUR, some 5 per cent above the 2,113 million posted in previous year.

TAP’s positive results illustrate the continuing efforts made by the sales force of the company, especially in international markets, along with the improvement in efficiency, which was mainly due to the gains in productivity and the reduction in consumptions. The involvement and strong commitment of TAP employees are worthy of mention as well.

With such results, TAP reinforced its robust contribution to the Portuguese national Economy, reflecting into the exports sector as well as in adding strongly to the tourism growing.

In 2014, TAP is adding six new aircraft to its fleet, which will allow the airline to launch operations to 10 new destinations: Belem and Manaus (Brazil); Bogota (Colombia) and Panama City (Panama) in Latin America, and also Nantes (France); Gothenburg (Sweden); Belgrade (Serbia); Hannover (Germany); Tallinn (Estonia) and S. Petersburg (Russia) in Europe.

The company is also reinforcing frequencies to some main destinations at the same time, meaning, all in all, an 8 per cent growth in offer, which is the best increase ever in one year alone.

About TAP Portugal

TAP is Portugal’s leading airline, in operation since 1945 and member of Star Alliance, the global airline alliance to offer customers worldwide reach, since 2005. Its hub in Lisbon is a key European gateway at the crossroads of Africa, North and South America, where TAP stands out as the international leading carrier in operation to Brazil. The company’s network currently comprises 77 destinations in 34 countries worldwide, with 10 new destinations in Europe and South America to be added throughout 2014. TAP currently operates 2,250 weekly flights in average on a modern fleet of 55 Airbus aircraft, to which add some 16 aircraft operating in PGA colours, TAP regional carrier, thus adding up to a 71 aircraft fleet in the whole. In the pursuit of its customer focused policy, TAP continuously strives to deliver safe, reliable and upgraded products & services, tailored to meet customers’ expectations. Retaining the Portuguese character of the Company’s brand and quality service as the basic concept has been the main driver of TAP strategy in most recent years. Recognized and awarded as the World’s Leading Airline to Africa by the World Travel Awards in 2011 & 2012, TAP was also awarded the WTA World’s Leading Airline to South America in 2009, 2010, 2011 and again in 2012. Voted Best Airline in Europe in 2011, 2012 and 2013 by the Global Traveler, USA, the company was also honored by UNESCO and by the International Union of Geological Sciences with the IYPE “Planet Earth Award 2010”, in the category of “Most Innovative Sustainable Product”. TAP was also voted Best Airline by Condé Nast Traveller Magazine in 2010 and Best Portuguese Tourism Company by the specialized magazine Marketeer, in 2011.

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