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2-Mar-2016 4:08 PM

Avianca Holdings in the red in 4Q2015 and 2015

Avianca Holdings revenue down 14% - financial highlights:

  • Three months ended 31-Dec-2015:
    • Total operating revenue: USD1068 million, -14.1% year-on-year;
    • Operating profit: USD88.9 million, -18.7%;
    • Net profit (loss): (USD252.2 million), compared to a loss of USD105.0 million in p-c-p;
    • Passenger numbers: 7.3 million, +5.7%;
    • Load factor: 79.7%, +0.1 ppt;
    • Yield: USD 9.1 cents, -22.1%;
    • Revenue per ASK: USD 9.2 cents, -21.4%;
    • Passenger revenue per ASK: USD 7.2 cents, -22.0%;
    • Cost per ASK: USD 8.5 cents, -21.0%;
    • Cost per ASK excl fuel: USD 6.7 cents, -13.8%;
  • 12 months ended 31-Dec-2015:
    • Total operating revenue: USD4361 million, -7.3%;
      • Passenger: USD3458 million, -10.5%;
      • Cargo and other: USD903.3 million, +7.4%;
    • Total operating costs: USD4143 million, -6.4%;
      • Fuel: USD1007 million, -25.2%;
      • Labour: USD666.1 million, -8.2%;
    • Operating profit: USD218.8 million, -21.7%;
    • Net profit (loss): (USD139.5 million), compared to a loss of USd128.5 million in p-c-p;
    • Passenger numbers: 28.3 million, +8.0%;
    • Load factor: 79.7%, +0.3 ppt;
    • Revenue per ASK: USD 9.8 cents, -14.8%;
    • Cost per ASK: USD9.3 cents, -13.9%;
    • Total assets: USD6588 million;
    • Cash and cash equivalents: USD479.4 million;
    • Total liabilities: USD5216 million. [more - original PR]

Avianca Holdings: "Moreover the company's capacity growth strategy will adapt the business to the new economic environment, targeting low single digits ASK growth rates. As a result the Company targets an Adjusted Net Debt to EBITDAR ratio within the next 24 months between 4.5x to 5.5x, as well as cash balance as percentage of last twelve month revenues between 12.5% - 13.5%." Source: Company statement, 01-Mar-2016.

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