Avianca Group presented its results for the second quarter of 2023, with an ebitda of 271.3 million dollars, and a margin of 24.3%, when in the same period last year it was 6.4%, as it was able to analyze. REPORTUR.co.
Revenues from the ticket skyrocketed, both those of the mere ticket and especially that of the extras, which offset the collapse in cargo billing, so that in one year Avianca went from sales worth 1,023 million to others of 1,114 million, that is, 91 million more.
Expenses experienced a marked decrease, going from €957 million in the second quarter of 2022 to €843 million in the same period this year, assuming €114 million less, thanks mainly to a reduction in the cost of oil by €148 million, since in the spring of last year Avianca paid 451 million for this section, compared to 303 million in the second quarter of this 2023.
The lower cost of fuel thus explains the enormous increase in Avianca’s margins, which despite the bankruptcies of Ultra Air and Viva Air maintained its average ticket price at $112, hardly changed from a year ago, as well as occupancy It continued at similar levels, remaining at 81 percent, after increasing its take-offs by 8% year-on-year and the number of passengers by 17%.
The net debt as of June 30 barely fell by 100 million dollars, equivalent to 3.2% less, going from 3,409 million to 3,300 million, although thanks to the ebitdar skyrocketing, which in the second half of 2022 had been 65 million, the ratio between debt and ebitdar went from 11.5 times to 3.2.
“We continue our strong execution of the Business Plan in a challenging quarter. Avianca completed its narrow-body densification program in record time. This further optimized our cost efficiency, allowed a greater allocation of capacity and continued to reduce our carbon footprint per passenger transported”, said Adrián Neuhauser, CEO of Avianca (Avianca creates a platform to group sustainability actions).
