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