Portuguese flag carrier TAP on Wednesday reported its 2023 net profit more than doubled to a record high 177.3 million euros ($192 million).

The state-owned airline had posted a profit of 65.6 million euros in 2022.

Its 2023 revenue rose almost 21% to 4.21 billion euros, also a record high.

($1 = 0.9240 euros) (Reporting by Pietro Lombardi; editing by Jason Neely)