Aerolineas Argentinas plans to close 2023 with US$32 million in profits
Aerolíneas Argentinas reported that it plans to close its balance sheet in 2023 with a profit of 32 million dollars, having executed 0% of the allocated budget. Thus, the company reaches financial equilibrium for the first time since 2008, when the National State recovered control of the airline.
The airline has been significantly reducing its deficit since reaching $667 million in 2019: during 2020 and 2021, the two pandemic years, it stood at $654 million and $439 million respectively, while in 2022 it was reduced to $246 million.
In August 2023, a half-yearly balance sheet was presented with a deficit of US$ 48 million, which meant a reduction of 61% compared to the same period of 2022 and, in turn, a reduction of 80% compared to the same period of 2019. Both in this case and in the previous ones, the accounting periods were audited by the General Audit Office of the Nation as well as by the international consulting firm KPMG.
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Another relevant fact is the increase in sales revenue, which this year is expected to close at 2,126 million dollars: 24% more than in 2022 and 34% more than in 2019. Also noteworthy is the 100 million dollars that the company managed to enter through a trust managed by BICE Fideicomisos S.A., a company of Banco de Inversión y Comercio Exterior.
“Aerolíneas demonstrated, in a very short time, that with a serious and responsible Business Plan, sustainability is possible. And we did it without using the budget allocated by the State, with record passengers, more aircraft, more destinations, more routes and adding value to the entire tourism sector”, explained Pablo Ceriani, president of Aerolíneas Argentinas.
For this year, the airline will surpass the 2019 passenger record: it will reach 14,050,000 and forecasts for 2024 to exceed 16,000,000.
In the last 4 years, 3 new destinations and 18 new routes have been added. Thus, the company flies to 39 destinations within Argentina (21 exclusively) and also operates 52 federal routes without passing through Buenos Aires. In the international flight network, there are 22 destinations (including Porto Seguro, which starts in 2024).
In addition, during 2023, it reached the historical record number of operational aircraft with 84 and will have 90 by the end of December next year. This fleet plan included the entry of 2 pure freighter aircraft and the renewal of the Embraer 190 fleet starting in 2024, when the new E195-E2s will be introduced.
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