Aerolineas Argentinas reports 27% jump in 1Q2010 revenue, no profit until 2012
Aerolineas Argentinas reported a 27% year-on-year jump in revenues to USD278 million for the three months ended 31-Mar-2010, following a 30% surge in passenger traffic in Mar-2010 (Reuters, 06-May-2010). The carrier forecast a loss of USD400 million this year and does not expect to return to profitability until 2012. Meanwhile, the carrier plans to renew its entire fleet as part of a USD3 billion investment programme to 2014.
Aerolineas Argentinas: "The big improvement in our numbers will come in 2011, when our need for financial help from the state will drop significantly, because most of the Embraer jets will be flying and Aerolineas will also have new planes," Mariano Recalde, President. Source: Reuters, 06-May-2010.