11-Nov-2011 1:04 PM
TAM EBIT down 19%, cash halved in 3Q2011
TAM revenue up 15% - financial highlights for three months ended 30-Sep-2011:
- Operating revenue: USD1964 million, +14.8% year-on-year;
- Total operating costs: USD1570 million, +22.5%;
- Fuel: USD462.2 million, -6.9%;
- Labour: USD378.3 million, +15.5%;
- EBIT: USD314.0 million, -18.7%;
- Net profit (loss): (USD351.7 million), compared to a profit of USD416.3 million in p-c-p;
- Passenger numbers: 9.5 million, +3.3%;
- Load factor: 73.7%, -1.5 ppt;
- Breakeven load factor: 61.4%, -6.4 ppts;
- Total yield: USD 13.28 cents, +7.6%;
- Total revenue per ASK: USD 9.42 cents, +4.2%;
- Cost per ASK: USD 7.83 cents, +13.0%;
- Cost per ASK excl fuel: USD 5.51 cents, +30.2%;
- Stage length: 1291, +3.6%;
- Total assets: USD8826 million, +7.5% when compared to period ended 31-Dec-2010;
- Cash and cash equivalents: USD292.3 million, -49.1% when compared to period ended 31-Dec-2010;
- Total liabilities: USD7673 million, +14.3% when compared to period ended 31-Dec-2010;
- FY2011 forecast:
- Passenger traffic (RPKs): +15% to +18%;
- Capacity (ASKs): +10% to +13%;
- Domestic: +10% to +14%;
- International: +10%;
- Load factor: 73% to 75%;
- Domestic: 67.5% to 70%;
- International: 83%;
- Cost per ASK excl fuel: -5%;
- Fleet plan:
- 2011: 156 aircraft;
- 2012: 159;
- 2013: 164;
- 2014: 171;
- 2015: 179. [more - Original PR]
*Based on the conversion rate at USD1 = BRL1.7619