Argentine Airlines to Invest $190 million this Year

On the heels of a past year that closed with $43.8 million worth of revenues and the strengthening of the carrier’s reshuffling, Argentine Airlines (AA) is now weighing to pour some $190 million into its own benefit, said Antonio Mata, chairman of AA Executive Committee.

Major indicators show that the company tallied $658 million in service earnings for a blistering 59.4 percent growth from 2002. In the same breath, AA flew 39.8 percent more passengers, jumping from 3,687,264 fliers in 2002 to 5,153,959 travelers last year.

A similar increase was achieved in the PFMR index (Passengers per Flown Mile Ratio) that soared from 8 billion to 11.1 billion for a jaw-dropping 38.56 percent hike.

The 2004 investment plan trumpeted by Mr. Mata includes the partial revamping of AA’s fleet with the addition of three new Boeing 747/400 jetliners scheduled to be operational from May and September this year to January 2005.

These huge aircraft will join another 747/400 Jumbo plane that the company has been using since January this year. Two other additions in the offing –these ones from the Airbus family- are an A-340/200 plane in June and an A-310/300 in October.

As to the purchase of low-range and mid-range jetliners, AA will buy eight high-tech Boeing 737/500 airliners between May and December in an effort to replace old B-737/200’s. And between June and July this year, the company will come into a couple of MD-83’s to round out a total of fifteen new aircraft in 2004.