Montevideo Carrasco Airport
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1700m x 45m
- Airlines currently operating to this airport with scheduled services
- Aerolineas Argentinas
Air Europa Lineas Aereas
BQB Lineas Aereas
TAM Airlines (Paraguay)
- Airlines currently operating to this airport via codeshare
- Delta Air Lines
KLM Royal Dutch Airlines
Carrasco General Cesáreo L. Berisso International Airport serves the capital city of Uruguay, Montevideo. The airport is the main international gateway to the country, hosting services from across South and North America. The airport was the main hub for defunct national carrier Pluna.
Location of Montevideo Carrasco Airport, Uruguay
Ground Handlers servicing Montevideo Carrasco Airport
131 total articles
9 total articles
BQB Líneas Aéreas has accelerated expansion, positioning it as Uruguay’s new flag carrier 18 months after the demise of Pluna.
BQB began pursuing expansion in late 2013 with four new routes, its first jet (a wet-leased A320) and a fourth ATR 72 turboprop. The carrier is planning further expansion in 2014, including the acquisition of a fifth ATR 72 and up to three A319s while the wet-leased A320 will be returned.
BQB should be large enough by the end of 2014 to render the proposed re-launch of Pluna or the establishment of another new Uruguayan carrier unnecessary. Uruguay is a small market and BQB is already about one third the size of Pluna, which had operated a fleet of 13 CRJ900s.
Even as losses continued for Brazil’s second largest airline Gol during 3Q2013, there were some positive signs in the carrier’s results and its efforts to improve its financial leverage. Its work during the past year to beat back the effects of a weakening Brazilian economy and the resulting pressure that has had on demand were evidenced in improved passenger unit revenue and yields.
Gol also recorded positive margin improvement and made strides in its leverage ratios as its exposure to the Brazilian domestic market is more pronounced than its major rival TAM, who as part of the LATAM Airlines Group is leveraging the parent company’s ability to transfer some of TAM’s exposure to the falling BRL to the LATAM balance sheet.
Going forward it seems that Gol aims to focus on international expansion as a means to weather the tough market conditions within Brazil. While the carrier is not prepared to divulge the form that expansion will take, additional service to the US might be in the offing.
Despite strides made by Brazilian carrier Gol in cost containment and yield growth during 2Q2013, the now-familiar woes of a sluggish Brazilian economy and currency devaluation continued to weaken the airline’s overall financial performance as the company recorded a BRL433 million (USD187 million) loss for the quarter.
It is an improvement over the BRL715 million (USD309 million) Gol bled during 2Q2012, and even as Brazil’s currency has weakened since 1Q2013 Gol maintains that it will still post a positive operating margin in the low single digits for 2013. This would result from structural changes it has undertaken during the last year – namely dramatic cuts in its domestic capacity. But it is growing increasingly doubtful if Gol can reverse annual losses it has posted during the last two years during 2013 as its 1H2013 losses were BRL508 million (USD219 million), and no signs of an upturn in the Brazilian economy have surfaced for 2014.
Efforts by Brazilian carrier Gol to convince the industry at large that its weak financial condition could turn a corner during 2H2012 so far have drawn little success. After the carrier recorded a 2Q2012 loss of BRL715 million (USD354 million) ratings firm Standard and Poors (S&P) opted to downgrade the carrier’s long-term corporate credit rating, concluding the company’s business risk profile as weak and highly leveraged. While the carrier’s Aug-2012 performance showed slight promise with a 1% rise in yields, pricing traction in the Brazilian domestic market remains weak, which will continue to pressure Gol’s results well into 2013.
Unlike its Brazilian rival TAM, which has a more diversified network with a larger number of international flights (and now has more network leverage through its merger with LAN), Gol’s focus until the last few months has been solely on the Brazilian domestic market. Yields in Brazil began weakening in 2011, and the country’s macroeconomic conditions have continued to diminish throughout 2012 as Brazilian GDP growth forecast are now 2% compared with previous estimates of 4%. It is a drastic drop from the 7.5% GDP growth posted by Brazil just two years ago.
Continued downward revisions of Brazil’s economic growth for 2012 have weakened domestic demand in the country, forcing its two largest carriers Gol and TAM to continue to trim capacity to ensure their supply growth is in line with the moving GDP target.
Gol’s new CEO Paulo Kakinoff in a 14-Aug-2012 discussion with investors outlining the company’s 2Q2012 loss of BRL715 million (USD409 million) stated the Brazilian economy “has disappointed many of us during the first half of the year”, noting that originally GDP growth was projected at roughly 4% for 2012. During 1H2012 growth was essentially flat, said Mr Kakinoff, and now GDP is expected to grow in 2012 by only 2%.
Gol, which has been reducing domestic capacity throughout 2012 has further refined its guidance as Brazil’s economy appears to be slowing. Previously, Gol has estimated its domestic capacity would drop by roughly 2%. Under its latest revision Gol now expects its domestic supply to decrease between 2% and 4.5% during 2012.
The demise of Pluna has left a large void in the Uruguayan market that will be partially filled through expansion by carriers from neighbouring Argentina, Brazil and Paraguay as well as by tiny Uruguayan regional carrier BQB Air. The Uruguayan Government has opted against bailing out Pluna, which ceased operations on 05-Jul-2012, and is instead now trying to find another carrier (either new or existing) to take over its routes and, potentially, its employees and fleet.
But the end result will almost certainly be the the lack of a network carrier for Uruguay and the sale of Pluna’s 13 Bombardier CRJ900 regional jets to overseas buyers. While some of Pluna routes could be taken over by other carriers, there will almost certainly be a steep reduction in traffic at Montevideo’s Carrasco International Airport as the Uruguayan market is too small to support more than a handful of point-to-point routes.
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