“The airline’s return to profits was possible, even though there was a drop in earnings, which totalled 2.242 billion euros, 156 million euros less than the 2.398 billion euros seen in 2015", TAP said in a statement.
The company, headed by Fernando Pinto said that “this drop [in income], however, was more than offset by an even larger reduction in operating costs, which were €227 million less than in 2015”. TPN/Lusa