AvianaTaca reports first semester 2012 net income of COP$71 billion

AvianaTaca reports first semester 2012 net income of COP$71 billion

Operating revenue increased 12.9% compared to the second quarter of 2011 to COP$ 1.8 trillion (USD1.0 billion), and passengers carried during the quarter reached 5.4 million

AviancaTaca Holding (PFAVTA CB) reported second quarter 2012 operating revenue of COP$ 1.8 trillion (USD1.0 billion), a 12.9% increase compared to the same period in 2011. This result is mainly due to a 12.9% increase in pax revenue fueled by an 11.6% increase in passenger traffic compared to the second quarter in 2011.

Capacity, measured in ASK (Available Seats per Kilometer), increased 9.6% in the second quarter of 2012 as a result of the ongoing growth and consolidation strategy of the 4 hubs (Bogota, Lima, San Salvador and San Jose, Costa Rica). During the second quarter the Company opened 5 new routes and added 19 flights to existing routes.

Load factor for the second quarter of 2012 remained unchanged at 77.7% compared to the same period last year.

Operating income in the second quarter of 2012 increased to COP$ 40,139 million (USD 22.5 million), boosting operating income for the semester 19.3% compared to the year-earlier period to COP$ 126,278 million (USD 70.7million).

ADVERTISEMENT

Net profit in the second quarter of 2012 increased 334.3% versus the same period in 2011 to COP$ 8,790 million (USD 4.9 million), increasing net profit for the semester to COP$ 71,620 million (USD40.1 million).

Second quarter 2012 results reflect the impact of adjustments in maintenance cost estimates and changes in the valuation methodology applied to frequent flier miles.

In compliance with fleet renovation and modernization plan, AviancaTaca added 2 aircraft in the second quarter of 2012, one (1) Airbus A319 and one (1) Airbus A320. One (1) Boeing 757 was withdrawn from service.