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Avianca pierde 900 millones en 2019
During the fourth quarter 2019, Avianca Holdings successfully concluded its financial reprofiling; deferring a total of approximately $220 million aircraft operating lease and debt amortization payments and exchanging 88.1% of its USD 550 million May 2020 bond. In addition, Avianca drew USD 250 million stakeholder financing from United Airlines and Kingsland Holdings as well as an additional USD 125 from other market participants. This is aligned with the “Avianca 2021” Strategic Plan which the Company is currently implementing to improve operational efficiency, strengthen the Avianca’s financial position and liquidity, and improve results of its operations.
• 4Q 2019 operating revenues1 reached $1.2 billion for the quarter; a 9.5% year-on-year decrease. Results were primarily driven by an 8.3% decline in passenger revenues1 , mainly due to an average fare decline and a reduction of transported passengers across the network in line with the Avianca 2021 Plan, as well as a 15.0% decrease in Cargo and Other revenues primarily due to a decrease in the average cargo fare.
• In addition, fourth quarter 2019 total operating expenses1 decreased by 9.7% mainly driven by a 79.3% decrease in flight operations, a 21.8% decrease in passenger services as well as a year on year reduction of 10.3% in fuel expenses. • EBITDA1 for the 4Q 2019 was $223.9 million, with a 19.2% EBITDA margin1 . Further, operating income1 (EBIT1 ) reached $98.6 million with an 8.4% operating margin1 a 28-bps increase, while net Income1 totaled - $0.4 million, compared to $58.2 million in 4Q 2018. Net income margin1 for 4Q 2019 reached 0.0%.
• Fourth quarter 2019 yields1 were 9.2 cents; a 0.4% year on year increase. This increase is the result of successful implementation of the Avianca 2021 plan, as Revenue Passenger Kilometers (RPK) declined by 8.7% year over year while Passenger revenue decreased 8.3% for the same period. Further, 4Q 2019 capacity measured in Available Seat Kilometers (ASKs), decreased by 6.9% year-on-year, while the consolidated load factor reached 80.1% across the network. • Cost1 per available seat kilometer excluding fuel (CASK1 ex-fuel) decreased 2.8%, to 5.9 cents in the 4Q 2019, compared to 6.1 cents in 4Q 2018. This was primarily driven by a 79.3% decrease in flight operations and a 21.8% decrease in passenger services. Further, aircraft fuel expenses decreased by 10.3% due to a 9.6% reduction in jet fuel prices. The latter was partially offset by increased maintenance and repair expenses1 , which increased by 12.8% in the fourth quarter of 2019, as well as by a 43.3% increase in fees and other expenses1 . 4Q 2019 CASK1 therefore decreased 3.1%, to 8.1 cents
• 4Q 2019 operating revenues1 reached $1.2 billion for the quarter; a 9.5% year-on-year decrease. Results were primarily driven by an 8.3% decline in passenger revenues1 , mainly due to an average fare decline and a reduction of transported passengers across the network in line with the Avianca 2021 Plan, as well as a 15.0% decrease in Cargo and Other revenues primarily due to a decrease in the average cargo fare.
• In addition, fourth quarter 2019 total operating expenses1 decreased by 9.7% mainly driven by a 79.3% decrease in flight operations, a 21.8% decrease in passenger services as well as a year on year reduction of 10.3% in fuel expenses. • EBITDA1 for the 4Q 2019 was $223.9 million, with a 19.2% EBITDA margin1 . Further, operating income1 (EBIT1 ) reached $98.6 million with an 8.4% operating margin1 a 28-bps increase, while net Income1 totaled - $0.4 million, compared to $58.2 million in 4Q 2018. Net income margin1 for 4Q 2019 reached 0.0%.
• Fourth quarter 2019 yields1 were 9.2 cents; a 0.4% year on year increase. This increase is the result of successful implementation of the Avianca 2021 plan, as Revenue Passenger Kilometers (RPK) declined by 8.7% year over year while Passenger revenue decreased 8.3% for the same period. Further, 4Q 2019 capacity measured in Available Seat Kilometers (ASKs), decreased by 6.9% year-on-year, while the consolidated load factor reached 80.1% across the network. • Cost1 per available seat kilometer excluding fuel (CASK1 ex-fuel) decreased 2.8%, to 5.9 cents in the 4Q 2019, compared to 6.1 cents in 4Q 2018. This was primarily driven by a 79.3% decrease in flight operations and a 21.8% decrease in passenger services. Further, aircraft fuel expenses decreased by 10.3% due to a 9.6% reduction in jet fuel prices. The latter was partially offset by increased maintenance and repair expenses1 , which increased by 12.8% in the fourth quarter of 2019, as well as by a 43.3% increase in fees and other expenses1 . 4Q 2019 CASK1 therefore decreased 3.1%, to 8.1 cents
