TAP Portugal recorded a 2009 net profit of €59 million ($79 million), a sweeping reversal from the €209 million deficit incurred in 2008, crediting its change in fortunes to declining fuel prices, cost-cutting measures, a "selective" capacity reduction and a commercial policy that allowed it to minimize the fall in revenue. The carrier said in a statement that it had achieved a "quite remarkable result which allows TAP to reposition again on the path to. . .profit" following the "exception" ...

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