AviancaTaca Holding S.A. reports 2Q net income of $40 million

AviancaTaca Holding (Avianca Colombia and Taca Airlines) (Bogota) reported second quarter 2012 operating revenue of $1.0 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 $22.5 million, boosting operating income for the semester 19.3% compared to the year-earlier period to $70.7 million.

Net profit in the second quarter of 2012 increased 334.3% versus the same period in 2011 to $4.9 million, increasing net profit for the quarter to $40.1 million.

On June 21, 2012, Avianca and Taca Airlines officially joined the Star Alliance.

Avianca: