Portuguese carrier TAP bears €85.1m loss in 2014

Portuguese flag carrier TAP saw losses amounting to 85.1 million euros (90.21 million U.S. dollars) last year, the Lusa News Agency reported Friday.

The state-owned airline swung to a loss for the second consecutive year, due to delays in the arrival of aircraft and successive strikes over the holiday periods.

The losses were also aggravated due to TAP in Brazil, which saw a negative net result of 22.6 million euros in 2014, according to Lusa.

These results come as the government selects a bidder to buy a 66 percent stake of the company, as Portugal is struggling to boost the country's fragile economy.