TAP Portugal has posted a full-year net profit of €34 million ($35.8 million) for 2016, marking its return to profitability. Revenue for the year fell €156 million to €2.2 billion, but operating costs dropped by €227 million to €2 billion, triggering the bottom line turnaround. The Portuguese flag carrier said the positive result was driven by “strong investment” from its new shareholders, Atlantic Gateway Group, including revamping of regional airline ...

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