TAP Portugal parent slides back into the red

Grupo TAP, parent of TAP Portugal, reported a summary result showing a net loss of €9.9 million ($12 million) in 2005, reversing a net profit of €8.6 million in 2004, which was fueled by a €30 million extraordinary gain from the partial sale of ground handling unit Servicos Portugueses de Handling. Turnover was not released, but the carrier said revenues from passenger operations increased 9.5%, revenue from cargo was up 24.4% and maintenance sales grew 28%. Operating ...