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Publicação
Análise Económico Financeira da principal companhia aérea portuguesa
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Resumo(s)
This study aims to conduct an economic and financial analysis of TAP Air Portugal, assessing its performance in recent years, identifying key trends, and evaluating its recovery capacity after periods of crisis, with particular focus on the impact of the COVID-19 pandemic. Through the analysis of various financial ratios, the research seeks to assess the company’s solidity, profitability, and liquidity, as well as its position within the aviation sector. TAP Air Portugal is the leading Portuguese airline and plays a strategic role in national and international air transport, being responsible for a significant share of air connections to and from Portugal. The TAP Group comprises several subsidiaries and operates in a highly competitive and cyclical sector, subject to economic fluctuations, changes in fuel prices, and external factors such as health crises or geopolitical events. The analysis shows that TAP went through a critical period during the pandemic, recording substantial losses, negative equity, and negative profitability between 2020 and 2021. From 2022 onwards, a gradual recovery began, marked by improved net results, a return to positive equity levels, and stronger liquidity ratios, although still below pre-crisis figures. Solvency ratios remain high, indicating a strong reliance on external financing. Profitability shows signs of improvement, driven by operational efficiency gains and restructuring measures, but remains in a consolidation phase. It is concluded that, although TAP has managed to reverse the negative trend and achieve financial stabilization, significant challenges remain, particularly in strengthening equity. The consolidation of these improvements will be crucial to ensuring the company’s sustainability and competitiveness in the medium and long term.
Descrição
Trabalho de Projeto de Mestrado, Matemática Aplicada à Economia e Gestão, 2025, Universidade de Lisboa, Faculdade de Ciências
Palavras-chave
TAP Economic and Financial Analysis Financial Ratios Covid-19