finance
TAP Air Portugal reports wider losses before privatization decision
TAP Air Portugal recorded a forty percent increase in its first-half losses for the year, reaching one hundred fifteen million dollars despite a slight bump in overall operating revenue. The European flag carrier struggled with sudden spikes in jet fuel costs that outpaced ticket sales, even as passenger demand across South American and European networks remained robust. As the Portuguese government evaluates binding minority stake offers from both Lufthansa Group and Air France-KLM, these financial pressures highlight the volatile economic landscape major carriers are navigating.