Aerolíneas Argentinas’ Reports Loss Reduction By 61% in 1H23
Aerolíneas Argentinas announced that during the first half of 2023, it registered losses of USD 48 million, which represents a 61% reduction compared to the same period in 2022, marking progress towards economic sustainability. Compared to the results from 2019, the deficit reduction exceeds 80%.
This is the first time the company has presented a semi-annual report, which, they emphasized, aims to improve «transparency, efficiency, and traceability.» It was approved by its Board and audited by the international consultancy KPMG.
In the statement, Aerolíneas Argentinas highlighted that «it has not received funds corresponding to the budget allocated for this year. As of today, the funds transferred by the National State amount to 6 billion pesos, which corresponds to the 2022 budget, which is currently 70% executed«.
Pablo Ceriani, president of Aerolíneas Argentinas, stated that this «is an excellent outcome, and when projected in the short to medium term, indicates that we are on the path to economic sustainability«.
«Today, we have a company with historically low levels of losses, flying to new destinations, with new federal routes, with more airplanes, and with passenger records. This proves that growth is the right way to achieve an economically efficient Aerolíneas Argentinas with a strategic role in connectivity and the country’s development«, he added.
In the first half of 2023, Aerolíneas Argentinas added 5 aircraft (two Boeing 737-800F, two Boeing 737 MAX 8 and one Airbus A330-200), ending the period with an operational fleet of 81, and expecting another A330-200 in September. With 7.7 million passengers transported, they project to close the year surpassing the 12,999,295 passengers from 2019.
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