# Portuguese aviation industry performance > Live situation record from CLSTR: https://clstr.news/situations/portuguese-aviation-industry-performance > Updated: 2026-08-31T06:10:53.000Z. Sources: 30. Developments: 2. The Portuguese aviation sector showed contrasting trends during the first half of 2026. National airport passenger traffic grew by 2.5%, reaching 35.341 million travelers. While the first five months saw historic highs, June experienced a minor decline of 0.2% compared to the previous year. Lisbon Airport remained the primary hub, handling 17.4 million passengers, while Porto and Faro airports also recorded growth. The United Kingdom was identified as the leading international partner for passenger movement. In contrast to the rising passenger volumes, the national carrier TAP Air Portugal reported a net loss of 99.2 million euros for the first half of 2026, a 40.3% increase in losses compared to the approximately 70.7 million euro loss recorded during the same period in 2025. The airline attributed this financial decline to an 18.7% rise in fuel costs, which saw a “significant acceleration of 52.3% in the second quarter” driven by conflicts in the Middle East. TAP noted that while the impact of rising jet fuel prices was immediate on expenses, revenue adjustments from ticket pricing are more gradual. Despite the net loss, the airline saw a 4.2% increase in passenger numbers to 8.2 million and a 4.3% rise in operating revenues to €2.04 billion. The airline’s load factor also improved to 85.4%. To bolster liquidity, TAP completed a €350 million senior debt issuance, ending June with €1.22 billion in cash and equivalents. Additionally, the Portuguese government is currently evaluating binding takeover offers from Lufthansa Group and Air France-KLM for a 44.9% stake in the airline as part of a partial privatization process. ## Claims - TAP reported a net loss of 99.2 million euros in the first half of 2026. (corroborated by 17 sources) - The company transported 8.2 million passengers in the first six months. (corroborated by 15 sources) - The loss represents a 40% increase compared to the same period last year. (corroborated by 14 sources) - Fuel costs increased by 18.7% during the semester. (corroborated by 14 sources) - Operating revenues grew by 4.3% to 2,039.8 million euros. (corroborated by 14 sources) - The recurrent EBITDA was 181.9 million euros. (corroborated by 11 sources) - The airline successfully completed a senior debt issuance of 350 million euros. (corroborated by 4 sources) - The government will receive an evaluation of binding offers from Lufthansa Group and Air France-KLM for 44.9% of TAP. (corroborated by 3 sources) ## Timeline ### 2026-08-31: TAP Air Portugal reports 99.2 million euro loss in H1 2026 TAP Air Portugal reported a 99.2 million euro net loss for H1 2026, driven by rising fuel costs, despite record passenger traffic and revenue growth. Privatization bids from Lufthansa and Air France-KLM are now 30 sources. https://clstr.news/cluster/tap-air-portugal-reports-992-million-euro-loss-in-h1-2026 ### 2026-08-16: Portuguese airports see 2.5% passenger growth in first half of year Portuguese airports saw a 2.5% rise in passenger traffic during the first half of the year, totaling 35.3 million travelers, despite a slight 0.2% dip in June. 3 sources. https://clstr.news/cluster/portuguese-airports-see-25-passenger-growth-in-first-half-of-year --- Cite as: Portuguese aviation industry performance. CLSTR, https://clstr.news/situations/portuguese-aviation-industry-performance