"The performance of the first quarter of 2025 was significantly impacted by the PGA pilots' strike, which lasted 20 days. In addition, the comparability of operating results was further affected by the change of Easter to the second quarter in 2025, as opposed to 2024, when it occurred in the first quarter. It is estimated that, together, they had a financial impact on operating results of between 30 and 40 million euros," says TAP in a statement.

The airline (TAP S.A.) recorded negative operating profit (EBIT - earnings before interest and taxes) of €131.6 million up to March, compared to negative €74.3 million in the same period last year.

Recurring EBIT was negative at 119.2 million (negative 60.3 million euros in the first three months of 2024).