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Profit Of 742 Million US Dollars


TAM Airlines ends 2009 with net profit

eTN Staff Writer  Apr 14, 2010

Citing the performance to its fuel hedge positions and exchange variations as a consequence of the appreciation of the Brazilian currency, the real, against the US dollar, target="_blank">TAM Airlines announced it had closed 2009 with a net profits of R$1.3 billion (US$742.4 million).

TAM also highlighted that it made concentrated cost cuttings and the result was a 14.7 percent decrease in the unit costs of the seats offered (CASK – cost per available seat kilometer).

Earnings before interest and taxes (EBIT) were R$336 million in 2009, a 51.8 percent decrease on the previous year. This was due to the combined effects of three factors caused by the global financial crisis: a reduction in the number of business trips flown; a decrease in yield (average price paid per passenger for each kilometer flown); and a reduction in the load factor on domestic and international flights.

Last year, TAM carried 30.4 million paying passengers on domestic and international flights, a slight increase of 0.9 percent in comparison to the total number of passengers transported in 2008.

TAM Airlines ends 2009 with net profit
Image via londonmet.ac.uk

Source: m-travel.com



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