Positive Financial Momentum Continues At Wingo Airlines
General Leader of Colombian LCC Wingo Catalina Breton discusses network opportunities, and the airline’s performance at Panama Pacifico airport. Ms Breton also states Wingo’s load factor is 86% across its network, and even though the airline’s financial performance is not broken out separately, Wingo should post a positive margin performance by the end of year.
Transcript
Catalina Breton:So we are always continuously researching for new opportunities to grow, both domestically and internationally. We started 1 year and a half ago with almost the same network that Copa Colombia had. We started with the domestic kind of hub network that they had, and now we're starting the phase where we are starting to explore growth opportunities, both domestically and internationally. We have opportunities in a lot of places that I think will require more Wingo service. Actually, we've been performing very well since we started. We do encourage competition. We think competition is good for the customers and for us, and we think that low-cost competition is good because it expands the pie, you know, not only compete for the same traffic. But I will say that we have always had good results in Colombia-Panama. Well, we have 17 routes right now. Of those, we have 6 domestic, 11 international. But of those 6 domestic, we started a new one 2 months ago in June 2018. We started Cali-Cartagena, and it's performing pretty well. And the international routes are performing pretty well. Right now, we have a load factor of 86% all across our network, and almost every route is around that percentage of of load factor. So we're very happy with the results. We started 1 year and a half ago with the main objective of reduced losses for CAPA Holdings in Colombia. And although we do not disclose figures for Wingo, we can say that after 1 year of operations, we reached breakeven. And we even think that by the end of this year, we're going to be positive in margin. So we're very excited with the results. We have transported 1.6 million passengers, 86% load factor, and our promise is not only low fares, that start from $1, but also a reliable product. And we can promise and deliver that thanks to our CAPA airline support. They run the operations and we have an impeccable operation of 90% on-time performance and 99.87% completion factor. So we're very happy with that. We also earned 2 awards for our brand campaigns, also demonstrating that we are a cool brand and that's attracting traffic to our Direct sales channel, which is our main strategy to sell.
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