Accounts from TAP SGPS show that the loss from the business in Brazil was 84.3 million last year. The operation closed for good in May after nearly 13 years of losses.
TAP’s maintenance and engineering business in Brazil (TAP M&E Brazil) made a further loss in 2021, this time to the tune of 84.3 million euros, according to the group’s annual report, reports Público newspaper this Tuesday.
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In addition to the losses recorded with the maintenance business in Brazil, TAP SGPS posted a negative result of 11.8 million euros at Portugália, and Groundforce suffered a loss of 7.8 million euros, while TAPGER, which controls 51 percent of the carrier’s health care unit (Cateringpor), had a positive result of 300,000 euros. In 2021, TAP S.A had a loss of 1,599.1 million euros, due to the negative effects of the closure of maintenance in Brazil, and an impairment of 884.7 million euros from the holding company related to TAP M&E Brasil was identified, according to the same newspaper.
