The months of July to September are valuable for TAP, and the third quarter of this year proved it once again, with the Portuguese airline’s figures standing out from the competition in some indicators, after falling well below in the first half of 2025.
What is traditionally the best quarter for airlines brought some disappointments, particularly in the lucrative traffic between Europe and the US, which was penalised by Donald Trump’s tariff policy and immigration restrictions. In a context of strong competition and capacity growth, the downward trend in average ticket prices continued in most markets.
The result was modest revenue growth, which, in the case of the IAG Group (owner of British Airways and Iberia), meant stagnation. Lufthansa performed best (4.3%), followed by TAP (2.7%) and Air France-KLM (2.6%), the first to formalise its interest in the privatisation of the Portuguese carrier.
