Ex-TAP CEO says tariffs cause more disruption than conflicts

A former CEO of TAP Air Portugal says that customs taxes and tariffs have caused more disruptions for airlines than the global conflicts over the past year.

Brazilian executive Antonoaldo Neves, who ran TAP from January 2018 to September 2020 – the period in which the company was controlled by the consortium Atlantic Gateway, and who now is the CEO of Etihad Airways -, told the Financial Times: “If we look at all the turmoil that we’ve had in trade over the past year, it was worse than any geopolitical tension.”

Antonoaldo Neves said that the business of the UAE-based carrier has been impacted by the change in travel patterns determined by the fare carousel, comparing the situation to “snowstorms” that disrupt traffic for several days.

The Fares Carousel is an airline marketing and booking tool that displays a rotating, visual selection of, top, or recently searched, fares to inspire travellers and speed up the booking process. It typically highlights top destinations, special offers, and various filters like budget or travel class, acting as a dynamic, interactive, advertisement.

Etihad Airways announced this Tuesday, February 24th, a profit of $698 million (€591 million) for the 2025 fiscal year, a 47% increase compared to 2024. The results were driven by the launch of more than 20 new destinations and an increase in the fleet.

Source: FT; Image: Investopedia