Aerolíneas Argentinas Records First Annual Profit Since 2008
For the first time since its nationalization in 2008, Aerolíneas Argentinas reported a positive annual financial result. According to data from the National Budget Office, the company closed the year 2024 with a favorable balance of $156,323.9 million.
In operational terms, the company achieved a profit of US$20.7 million, measured by EBIT (Earnings Before Interest and Taxes). This figure reflects the profitability derived solely from the company’s core operations, excluding taxes and non-operating income.
The company received $58,732.7 million from the National Treasury to finance its workforce reduction plan. As a result, by the end of 2024, the workforce was reduced to 10,401 employees, representing a year-on-year decrease of 1,528 workers.
From Red Numbers to Profits
Since its nationalization, Aerolíneas Argentinas averaged an annual operating deficit of nearly US$400 million, with a loss of US$390 million in 2023. The management team, which took over in December of that year, implemented an aggressive cost-cutting policy aimed at preparing the company for a potential privatization.
While the positive financial result marks a milestone, the company cautioned that the figures still need to be audited and officially approved by the shareholders’ meeting.
→ Iberia and Aerolíneas Argentinas Sign Alliance to Expand Connectivity Between Argentina and Spain
Detailed 2024 Financial Report
The financial statement presented by the airline reflects the following results:
- Current revenue: $3,075,067 million
- Current expenses: $2,918,743.1 million
- Net profit: $156,323.9 million
- Capital resources: $237,460.3 million (a 746.8% year-on-year increase)
- Capital expenditures: $104,665.4 million
- Total financial result: $104,665.4 million
Commercial Performance
During 2024, Aerolíneas Argentinas sold 18,391,301 tickets. Passenger distribution by destination was as follows:
- Domestic flights: 10,161,301 passengers
- Regional flights: 1,770,029 passengers
- European destinations: 392,809 passengers
- Inter-America flights: 388,021 passengers
- United States: 325,200 passengers
- Cargo: 5,295,554 tons transported
The financial performance of Aerolíneas Argentinas in 2024 represents a significant shift in its recent history. However, it remains to be seen whether the company can sustain this positive trajectory in the long term and how a potential privatization might impact its future structure and operations.
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