AviancaTaca reports a USD$23.68 million net profit for the first quarter of 2011
AviancaTaca Holding S.A. generated a net profit of USD$ 23.68 million for the 2011 January-March period, an increase of 16.46% compared to the same period in the previous year.
This figure also includes the results of the AeroGal operation in Ecuador, a company acquired by AviancaTaca in November 2010.
Operating income was USD$845.15 million, representing an increase of 15.92% with respect to the same quarter of 2010. This item was driven by an increases of 14.19% in income from passengers, 15.76% in revenues from cargo and mail, and 68.36% in related activities.
Cost Per Available Seat Mile (CASM) increased by 7.6% during the period. 4,878,972 passengers were transported during January-March 2011, an increase of 10.5% compared to the number of people mobilized in the January-March 2010 quarter. The PLF (passenger load factor) was up from 76.95% in the first quarter of 2010 to 77.48% in the first quarter of the year.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was USD$ 72.28 million. This figure was 26.8% less than the EBITDA for the same period of 2010, impacted by the rise in fuel prices, whose total cost to the Company increased by 40% compared to the January-March 2010 period.
When presenting the figures for the first quarter of 2011, the Group Executive President, Fabio Villegas Ramírez, said: "The good results achieved by AviancaTaca at the end of the first term of this year are an example of the dynamism of the company, as well as the effectiveness of programs that are focused towards improving the service, productivity and the competitiveness of AviancaTaca and its subsidiaries".