The corporate’s continued dedication to concentrate on being reasonably priced for all, results in extra passengers transported year-over-year and a strengthened load issue regardless of a major capability improve.
“We stay dedicated to transporting our prospects to extra locations in an reasonably priced approach,” stated Frederico Pedreira, Avianca’s Chief Govt Officer. “Within the first quarter, we launched a brand new, extra simplified and versatile fare scheme that enables our prospects to fly in accordance with their wants, and we continued to broaden our community and enhance our connectivity with the launch of recent routes, together with the reopening of Bogota-Paris, after 20 years, in addition to Bogota-Montreal. We achieved this whereas delivering strong working outcomes, demonstrating our dedication to transporting our shoppers safely, on time and with their baggage. For all of the achievements, I wish to thank our group for his or her dedication and the excellent work they proceed to do”.
First Quarter 2024 Highlights
- Consolidated capability, measured in Out there Seat Kilometers (ASK), reached 15,135 million within the first quarter of 2024; a 26.1% improve relative to first quarter 2023. The Group transported 9.3 million passengers throughout the interval, representing a 37.5% improve over the identical interval in 2023.
- Complete working revenues within the first quarter of 2024 reached $1,265 million; a 16.4% improve over the identical interval in 2023, whereas complete working bills have been $1,131 million, a 15.2% improve over the identical interval in 2023, regardless of a 26.1% capability improve.
- EBITDAR was $272 million within the first quarter of 2024, at a 21.5% margin, whereas Web Revenue for the interval was $13 million.
- Money steadiness was $971 million at March 31, 2024.
- Passenger revenues have been $1,013 million for the primary quarter of 2024, reflecting a 22.2% improve relative to first quarter 2023. This improve is a results of the Firm’s continued efforts to make flying extra accessible to a broader vary of passengers.
- Cargo, Loyalty and different revenues for the primary quarter of 2024 have been $252 million. Quarterly LifeMiles Money EBITDA elevated 15.3% relative to first quarter 2023, reaching $36 million. Cargo revenues throughout the interval have been $152 million, an 8.3% lower relative to first quarter 2023 attributable to continued market softening and trade freighter capability remaining above prepandemic ranges. Nonetheless, Cargo revenues have been forward of Enterprise Plan.
- Web Debt to last-twelve-month EBITDAR was 3.2x.
- Passenger Prices per Out there Seat Kilometer excluding gas (PAX CASK ex-fuel) within the first quarter of 2024 was $4.1 cents.
- We ended the primary quarter of 2024 with an working passenger fleet comprised of 141 plane: 128 Airbus 320 household plane, and 13 Boeing 787s.
- Avianca reintroduced Enterprise Class service on the Narrowbody operation from Bogota to 11 locations within the Americas: Chile, São Paulo, Buenos Aires, Montevideo, Río de Janeiro, Miami, Washington, New York, Boston, Toronto, and Mexico Metropolis. The service shall be out there beginning July 1st.
- Avianca resumed the Bogota-Caracas route, and introduced 5 new routes from Medellin to Buenos Aires, Santiago, and Lima; and from Bogota to Montreal, and Paris. Within the first quarter of 2024, our community consisted of 150 routes connecting 76 locations.
- Avianca’s first reconfigured B787 began operations the third week of April, with variety of seats elevated from 250 to 291. providing 16.4% extra cabin capability. We’re on observe to finish the reconfiguration of our remaining 12 widebody plane this yr.
- Avianca Cargo continued to guide the flower market from Colombia to the US throughout Valentine’s season, transporting ∼18,000 tons of flowers in over 300 cargo flights from Colombia and Ecuador, whereas additional strengthening its aggressive place inside the area.
- Additionally, Avianca Cargo gained the ESG Award throughout the Aviation Achievement Awards 2024, reflecting its dedication to sustainability.
- LifeMiles introduced new insurance policies that make it simpler for purchasers to qualify for Elite standing.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Community; his obligations embody enterprise improvement and planning for TravelDailyNews long-term alternatives.
