It should be noted that the rate per kilometer flown fell by an average of 4.5% with respect to the first three months of 2023. This was achieved thanks to the company's efforts to continue with an efficient operation and offer more affordable fares to its customers.

From a financial results standpoint, the Avianca Group's EBITDAR was USD 272 million, up from USD 233 million in the same period of the previous year. This resulted in an EBITDAR margin of 21.5%. In addition, liquidity remains in a healthy position at USD 971 million.

“We remain committed to transporting our customers to more destinations, affordably”, said Frederico Pedreira, CEO of Avianca. “In the first quarter, we introduced a new, more simplified, and flexible fare scheme that allows people to fly according to their needs. We continue to expand our network and improve connectivity for our customers with the launch of new routes, including the reopening of Bogota-Paris, after 20 years, as well as Bogota-Montreal. We have achieved this while the company continues to deliver solid operating results, demonstrating our commitment to getting our customers to their destination safe, on time and with their bags. For all that has been achieved, I would like to thank our team for their commitment and the excellent work they are doing”.

Among the operational indicators, the airline achieved an OTP (On-Time Performance) of 85%; an itinerary adherence of 99.1% and a baggage handling incident per thousand passengers of 1.3, below the latest global average released by SITA (7.6 by 2022).

It should be noted that last week, the company announced a change in the Business Class experience on twin-aisle aircraft (available on flights to and from Europe) and the renewal of business class service on single-aisle aircraft for flights from Bogota to eleven destinations in the Americas. And recently, Avianca's first reconfigured B787 began operations, offering 16.4% additional cabin capacity.

*Fare measured as value per kilometer flown.

Business units

Cargo revenues were USD 152 million between january and march 2024, down 8.3% compared to the same period last year. This is mainly attributable to two causes: the reduction in demand, which normalized to pre-Covid levels; and the continued recovery of widebody capacity, coupled with cargo capacity levels that remain above 2019. Even so, the cargo business maintains its leadership in the flower market from Colombia to the United States after the Valentine's Day season, transporting around 18,000 tons on more than 300 flights, while continuing to strengthen its competitive position in the region. Avianca Cargo recently won the ESG award from the Aviation Achievement Awards 2024, reflecting its commitment to sustainability.

LifeMiles' contribution to the group's cash flow was USD 36 million, 15.3% more than in the same period of 2023. In the case of the loyalty program, mileage redemption was distributed as follows: 59% in Avianca; 35% in other airline partners; and 7% in non-airline partners. In the first three months of last year this was 63%; 29%; and 8%, respectively. The program also communicated new policies during this period that make it easier to qualify for Elite status.

Translated by: A.M