AviancaTaca Records Third Quarter Net Profit of COP$101.04 Billion

AviancaTaca Holding S.A., the Colombian airline that is part of the Taca group, reported third quarter revenues of COP$1.98 trillion, a 3.5 increase in comparison to the same period in 2011. Excluding the one-time adjustment of expired tickets reported in the third quarter of 2011, operating income increased 8.1 percent.

Operating profit for the third quarter reached COP$209.22 billion, 12 percent below the same period for the previous year, mainly due to the increase in fuel costs. Excluding the one-time adjustment for expired tickets in the third quarter of 2011, operating profit for the third quarter of 2012 increased 21.1 percent.

Excluding the one-time adjustment for expired tickets in the previous year, EBITDAR for the third quarter of 2012 increased 12 percent. Net profit for the third quarter of 2012 was COP$101.04 billion, 14.8 percent higher than the net profit recorded for the same period in 2011.

Capacity, measured in ASK (Available seats per kilometer), increased 10.3 percent in the third quarter as a result of the ongoing growth and consolidation strategy of the four hubs (Bogotá, Lima, San Salvador and San José in Costa Rica). The company opened five new routes during this period, along with additional flights to existing routes in South America.

Passenger traffic measured in RPK (Revenue passenger kilometer) rose 9.1 percent in the third quarter, whereas the load factor reached 81.8 percent for the third quarter of 2012. Cost per available seat kilometer, excluding fuel costs (CASK ex Fuel), decreased 6 percent.

In compliance with its fleet renovation and modernization plan, AviancaTaca added five aircraft to its fleet in the third quarter: one Airbus A330, two Airbus A319 and two (Airbus A320, whereas one Airbus A319 was retired from service. During the third quarter, the company announced that it will be adopting the Avianca brand name for the group's airlines starting in the first quarter of 2013.

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