TAP Portugal widens 1H loss 14.6% on strikes, fuel costs

TAP Portugal A340-300. By Rob Finlayson TAP Portugal reported a net loss of €112 million ($138 million) for the first half, 14.6% worse than the year-ago period. The airline blamed strikes and soaring fuel prices for the deteriorating financial performance, but stressed that operations “are highly seasonal and a considerable improvement is expected in the second half of the year.” TAP said that, although revenue for the first half was up 9.3% year-over-year, ...