TAP grows as restructuring continues

Portuguese flag carrier pushes profitable routes
TAP posted a 4.7% growth in the number of passengers flown in September, year-on-year, to more than 1,160,000 passengers. The highlight was the intercontinental sector, which rose by 11.3%.
The Portuguese flag carrier’s Boston and New York JFK routes helping push the US total up by 104.5%.
TAP is restructuring its network, with changes introduced to capacity as well as frequency reductions in deficit-making routes during the first quarter of 2016, while reinforcing capacity to markets with higher demand.
The results are now beginning to show, the airline says, with an overall load factor of 85.5%.
Traffic on TAP’s short and medium-haul network increased by 2.7%, to 882,508 passengers carried during the month. Domestic flights saw 102.1% growth on the Lisbon-Porto route, following the launch in March of shuttle services connecting these two Portuguese cities.
A consortium led by David Neeleman, former chief executive of JetBlue, and Humberto Pedrosa, took 61% of TAP in 2015. But the deal was amended in early 2016 as a new Portuguese government regained control of the airline with a 50% stake and the Neeleman/Pedrosa consortium agreed to cut its stake to 45% while leading the restructuring.
TTG Nordic