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Company Watch - TAM Airlines.

Apr 5, 2009

TAM Airlines operating revenue rose 29.7% year-over-year to BRL10.96 billion while expenses were up 27.8% to BRL9.86 billion. Operating profit improved 65% to BRL688.6 million from BRL417.4 million in 2007. But financial losses of BRL2.61 billion, compared to earnings of BRL260.3 million on a similar basis in 2007, were critical. The company incurred BRL1.96 billion of those losses in the fourth quarter, comprising BRL815 million in exchange fluctuations, BRL919 million in noncash fuel hedge losses and BRL145 million in realized losses. TAM said it renegotiated its hedge contracts for 2009. Apr 1, 2009

TAM Airlines sank to a BRL1.34 billion ($577.4 million) loss in 2008, a reversal from the BRL468.6 million profit the Brazilian carrier earned in 2007, as its fuel hedges and the depreciation of the real eclipsed operational improvements. Apr 1, 2009

TAM Airlines transported 30.1 million passengers last year, up 8.2%, and flew 40.52 billion RPKs, a 20.9% increase. Capacity was up 19.9% to 57.1 billion ASKs and load factor rose 0.6 point to 71%. Average fare climbed 19.2% to BRL298. Yield rose 6.8% to BRL24.67 cents on an 8.2% increase in unit revenue to BRL18.48 cents. The carrier finished the year with 129 aircraft (four 777s, two A340s, 16 A330s, three 767s, three A321s, 81 A320s and 20 A319s), compared to 115 on Dec. 31, 2007. Apr 1, 2009

TAM Airlines expects to add three A320 family aircraft this year and finish the year with 132 planes in its fleet. Three more narrowbodies and two A330s are scheduled to join in 2010. It said it has arranged financing for pre-delivery payments for all those aircraft. Apr 1, 2009

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Publication:AirGuide Business
Date:Apr 6, 2009
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