AviancaTaca triples 2Q net profit to $4.8 million
Published: August 17, 2012
Computer rendering of A320neos in Avianca and Taca liveries. Courtesy, Airbus
AviancaTaca Holdings reported a second-quarter net profit of COP$ 8.8 billion ($ 4.9 million), more than triple its year-ago profit.
The company said the second-quarter results “reflect the impact of adjustments in maintenance cost estimates and changes in the valuation methodology applied to frequent flyer miles.”
Second-quarter operating revenue was COP$ 1.8 trillion ($ 1 billion), up 12.9%.
RPKs grew 11.6%, while ASKs increased 9.6% as a result of the ongoing operating strategy of consolidating four main hubs respectively in Bogotá, Lima, San Salvador and San José.
Five new routes and 19 new flights were added to the network in the period, while the company added one Airbus A319 and one A320 to the fleet. One Boeing 757 was removed from service. Load factor remained flat at 77.7% year-over-year.
First-half net income was COP$ 71.6 billion and operating income grew 19.3% to COP$ 126.2 billion.
Chairman Roberto Kriete told ATW in June that the merger of Colombia’s Avianca (AV) and El Salvador’s Grupo TACA (TA) into AviancaTaca created higher-than-expected synergies and by the middle of next year, it will complete the 100% target of synergies ( ATW Daily News, June 27 ).
AV and TA joined Star Alliance in June ( ATW Daily News, June 21 ).