TAP Air Portugal (TP, Lisbon) says it expects to continue reducing the size of its fleet during the remainder of 2020 as it grapples with low travel demand brought on by COVID-19-related travel restrictions.
In its 1Q20 trading report, the majority state-owned carrier said six aircraft (one A321-200, one A320-200, three A319-100s, and one E190) would be retired as their leases expire through the end of 2020 with no replacement capacity planned. In addition to these, further aircraft exits are being considered to better match the fleet with current and anticipated demand.
According to the ch-aviation fleets module, TAP operates seventeen A319-100s, nineteen A320-200s, seven A320-200neos, four A321-200s, six A321-200Ns, seven A321-200NX(LR)s, seven A330-200s, and nineteen A330-900s. Its Portugália Airlines (NI, Lisbon) subsidiary operates nine ERJ 190-100LRs and four ERJ 190-200ARs.
TAP posted a 1Q20 net loss of EUR395 million (USD443 million) driven by events related to the COVID-19 pandemic, namely a jet fuel overhedge of EUR150.3 million (USD169 million), with net income also impacted by negative net currency exchange differences of EUR100.5 million (USD112.92 million).
