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17-May-2011 1:26 PM

TAM profits surge in 1Q2011

TAM revenue up 17% - financial highlights for the three months ended 31-Mar-2011:

  • Operating revenue: USD1861 million, +16.8% year-on-year;
    • Airline operations: USD1874 million;
    • Multiplus: USD148.0 million;
  • Total operating costs: USD1793 million, +16.0%;
    • Fuel: USD646.7 million, +33.0%;
    • Labour: USD413.5 million, +27.1%;
  • EBIT: USD67.4 million, +43.5%;
  • Operating profit: USD101.5 million, +149.9%;
    • Airline operations: USD55.7 million;
    • Multiplus; USD51.1 million;
  • Net profit: USD78.8 million, compared with a loss of USD43.4 million in p-c-p;
  • Passenger numbers: 9.3 million, +11.9%;
  • Load factor: 74.0%, +1.9 ppt;
  • Breakeven load factor: 71.3%, +1.3 ppt;
  • Total revenue per ASK: USD 9.72 cents, +3.9%;
  • Total yield: USD 13.70 cents, +1.4%;
  • Cost per ASK: USD 9.42 cents, +3.1%;
  • Cost per ASK excl fuel: USD 5.99 cents, -3.8%;
  • Sector length: 1248, +2.1%;
  • Total assets: USD8906 million, +0.7% when compared to period ended 31-Dec-2010;
  • Cash and cash equivalents: USD345.1 million, -44.3% when compared with the period ended 31-Dec-2010;
  • Total liabilities: USD7218 million, -0.3% when compared with the period ended 31-Dec-2010;
  • FY2011 forecast:
    • Passenger traffic (RPKs): +15% to +18% year-on-year;
    • Capacity (ASKs): +10% to +13%;
    • Load factor: 73% to 75%;
    • Number of new international destinations: Two;
    • Cost per ASK excl fuel: -5%. [more]

* Based on the conversion rate USD1 = BRL1.635

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