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Avianca reported that he transported 9,3 million passengers in the first quarter of the year and that its EBITDAR reached USD 272 million in 2024.
Avianca start the 2024 with good operational and financial results, reporting an exceptional first quarter marked by notable growth in passengers, improvements in efficiency and solid financial results that consolidate it as a key player in the Latin American aviation industry.
Avianca passenger and financial results
The airline transported 9,3 million passengers in the first quarter of 2024, which represents an increase in 37,5% compared to the same period of the previous year. This significant growth is a reflection of the recovery of the tourism sector and the confidence of passengers in the airline..
Despite the increase in demand, Avianca has strived to maintain affordable rates for its customers. The rate per kilometer flown experienced an average reduction of 4,5%, demonstrating the company's commitment to offering quality service at competitive prices.
Avianca not only cares about price, but also for the customer experience. In this way, has implemented a new simplified and flexible tariff scheme, allowing passengers to choose the option that best suits their needs.
What's more, The airline has significantly improved its route network with the reopening of the route Bogotá-Paris, after 20 years, and the inauguration of the route Bogotá-Montreal. These new connections expand travel possibilities for customers and strengthen Avianca's position as an air bridge between Latin America and Europe..
Solid financial results
The efforts of Avianca translate into solid financial results. Avianca Group's EBITDAR reached USD 272 millions, a 17% more than in the first quarter of 2023, generating an EBITDAR margin of 21,5%. The company's liquidity remains in a healthy position with USD 971 millions, giving you a solid foundation to continue your growth.
The cargo business Avianca has also shown positive performance, with USD income 152 million in the first quarter of 2024. The airline has remained the leader in the flower market. Colombia a USA, transporting around 18.000 tons during the season Valentine's Day.
The loyalty program LifeMiles has contributed to the group's cash flow with USD 36 millions, a 15,3% more than in the same period of 2023. Avianca has implemented new policies to facilitate qualification for Elite status, showing its commitment to the loyalty of its most valuable customers.
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