TAP looks to US to 'counterbalance' problems in other markets

By TPN/Lusa, in Travel · 12-12-2018 08:35:00 · 0 Comments
TAP looks to US to 'counterbalance' problems in other markets

Antonoaldo Neves, CEO of Portugal's flag carrier TAP, said the company was following international developments and that its focus the United States aimed to "counterbalance" any problems in other markets.

Speaking at the conference "Success Made in Portugal," organised by digital newspaper Dinheiro Vivo, in Lisbon, Neves said TAP was aware of the concern regarding political and economic stability around the world, pointing out that "79% of tickets" are sold outside Portugal. "We have to be alert," he said.

A quarter of TAP's revenue "comes from Brazil, the elections are over and that eliminated an uncertainty so there is a "positive perspective for Brazil next year," he added.

"Our second biggest market is in Portugal, around 20%, and we continue with a positive perspective since the country is a tourism destination and that doesn't change from day to night."

TAP's "greatest investment" is the United States, "regardless of global challenges, since demand for the United States will continue," Neves said.

Neves explained that fuel prices, which represent around 27% of the company's costs, were not under TAP's control. He also said Brexit would not have a big impact on the company.


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