01-Mar-2011 3:59 PM
TAM orders more aircraft and reports USD91m profit for 2010
Analysis
Brazilian carrier TAM has reported a USD90.6 million profit for 2010 and announced orders for 34 new aircraft. The carrier has signed an MoU for 32 A320 aircraft, comprising 22 A320neo and 10 A320-family aircraft. The order makes TAM the launch customer for the A320neo in Latin America. It has also ordered two B777s.
TAM financial highlights:
- 12 months ended 31-Dec-2010:
- Revenue: USD6744 million, +16.5%;
- Operating costs: USD6256 million, +8.9%;
- Fuel: USD2075.8 million, +25.9%;
- Labour: USD1400 million, +17.3%;
- Operating profit: USD587.6 million, +365.5%;
- Net profit: USD383.4 million, -48.9%;
- Passenger numbers: 34.6 million, +13.6%;
- Load factor: 71.9%, +3.7 ppts;
- Total revenue per ASK: USD 9.56 cents, +5.3%;
- Total yield: USD 13.77 cents, -0.1%;
- Cost per ASK: USD 8.72 cents, -1.5%;
- Cost per ASK excl fuel: USD 5.83 cents, -7.7%;
- 2011 forecast:
- Domestic passenger traffic (RPKs): +15% to +18%;
- Capacity (ASKs): +10% to +13%;
- Cost per Ask excl fuel: -5%.
Selected AAD daily share price movements (% change): 28-Feb-2011
