Aerolíneas Argentinas Closes 2025 with $112.7 Million Surplus and No State Transfers for First Time Since 2008
Aerolíneas Argentinas concluded the 2025 fiscal year with an operating surplus of 112.7 million dollars. For the first time since its renationalization in 2008, the company achieved this result without receiving any transfers from the National State.
This financial outcome nearly doubles the 56.6 million dollars earned in 2024, marking the second consecutive year of positive operating balances—an unprecedented feat in the company’s recent history.
With revenues exceeding 2.22 billion dollars, the 2025 financial performance solidifies a structural shift in the company’s economic management. This follows a prolonged period of operational losses; between 2008 and 2023, the airline recorded an average annual EBIT loss of 400 million dollars and required over 8 billion dollars in direct state transfers.
Operational Performance: Production Stability and High Compliance
Capacity and Demand
From an operational standpoint, the company maintained the same level of flight hours in 2025 as in 2024. Operations averaged 300 daily flights, transporting 35,016 passengers per day. The annual total reached 12,781,016 passengers with an 83% load factor, reflecting efficient use of available capacity.
Reliability and Customer Experience
A key highlight of the fiscal year was operational reliability, achieving a 99.4% completion factor. This performance translated into positive passenger feedback, evidenced by a Net Promoter Score (NPS) of 55 points. This near-100% compliance rate serves as a vital indicator of operational efficiency and perceived service quality in an increasingly competitive market.
Financial Restructuring and Fleet Modernization
Debt Reduction
In tandem with the positive operating results, Aerolíneas Argentinas advanced a sustained financial cleanup. Between December 2023 and December 2025, the company reduced its bank and financial debt by 41%, dropping from 341.9 million dollars to 207.4 million dollars. This reduction is part of a policy focused on cost containment and structural profitability improvements.
Incorporation of 18 New Aircraft
As part of this strategy, the airline announced the addition of 18 new aircraft to strengthen and modernize its fleet. The plan includes:
- Four Airbus A330neo
- Eight Boeing 737 MAX 10
- Four Boeing 737 MAX 9
- Two Boeing 737 MAX 8
This projected renewal aims to improve operational efficiency and profitability, aligning the fleet structure with the financial goals achieved over the last two years.
Leadership Perspectives
Fabián Lombardo, President and CEO of Aerolíneas Argentinas, noted that the result “strengthens the direction we have adopted over the last two years, in which we focused on cost reduction and maximizing profitability”. He further asserted that the company has proven it can “compete on equal terms with other industry players,” reaffirming a commitment to operational safety and service quality.
The 2025 results are currently undergoing validation by the consultancy firm KPMG, which previously certified the 2024 financial statements. Final Board approval of the 2025 balance sheet is expected by mid-year.
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