Passenger air transport revenue in Portugal 2010-2022
The short to medium term does not augur well for the sector either, as the outbreak of the corona virus has severely impacted the aviation industry. With the government announcing a nationwide lockdown, all international flights outside of the EU have been banned for an indefinite period of time. The country’s flagship carrier, TAP airlines, which was already in financial turmoil after reporting a net loss of 106 million euros in 2019, has been severely affected as majority of its flights have been grounded. In order to mitigate the loss, the government has announced a package worth 1.2 billion euros for the carrier.