Corporate Presentation November 2017

Size: px
Start display at page:

Download "Corporate Presentation November 2017"

Transcription

1 Corporate Presentation November 2017

2 Disclaimer The material that follows comprises information about Avianca Holdings S.A. (the Company ) and its subsidiaries, as of the date of the presentation. It has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving legal, tax, investment or other advice to potential investors. The information presented or contained herein is in summary form and does not purport to be complete. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness, or completeness of this information. Neither the Company nor any of its affiliates, advisers or representatives accepts any responsibility whatsoever for any loss or damage arising from any information presented or contained in this presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice, and its accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives makes any undertaking to update any such information subsequent to the date hereof. This presentation contains forward-looking statements, which are based upon the Company and/or its management s current expectations and projections about future events. When used in this presentation, the words believe, anticipate, intend, estimate, expect, should, may and similar expressions, or the negative of such words and expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. Additionally, all information, other than historical facts included in this presentation is forward-looking information. Such statements and information are subject to a number of risks, uncertainties and assumptions. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated due to many factors. As for forward-looking statements that relate to future financial results and other projections, actual results may be different due to the inherent uncertainty of estimates, forecasts and projections. Because of these uncertainties, potential investors should not rely on these forward-looking statements. Neither the Company nor any of its affiliates, directors, officers, agents or employees, nor any of the shareholders or initial purchasers shall be liable, in any event, before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages. Certain data in this presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy or completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors. In addition to IFRS financials, this presentation includes certain non-ifrs financial measures, including Adjusted EBITDAR, which is commonly used in the airline industry to view operating results before depreciation, amortization and aircraft operating lease charges, as these costs can vary significantly among airlines due to differences in the way airlines finance their aircraft and other asset acquisitions. However, Adjusted EBITDAR should not be considered as an alternative measure to operating profit, as an indicator of operating performance, as an alternative to operating cash flows or as a measure of the Company s liquidity. Adjusted EBITDAR as calculated by the Company and as presented in this document may differ materially from similarly titled measures reported by other companies due to differences in the way these measures are calculated. Adjusted EBITDAR has important limitations as an analytical tool and should not be considered in isolation from, or as a substitute for an analysis of, the Company s operating results as reported under IFRS. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company or this proposed offering. 2

3 Agenda 1 Company Overview and Track Record 2 Leading Airline in Latin America focused on service excellence 3 Strong Operational and Financial Performance 4 Diversified Sources of Revenue with Growing Non-Passenger Businesses 5 Strategic Projects and Full Year Outlook 3

4 Company Overview and Track Record

5 Successful Integration with Further Synergy Generation Potential Well-Defined Integration Plan Realized Revenue Synergies: $219MM Total Revenue 16: $4,081MM Star Alliance Single Brand Single Commercial Code Single Web Page LifeMiles Maximization Ancillary Revenue Revenue Management Optimization Total Revenue 10: $2,815MM (1) 2010 Single Management Team Single Loyalty Program 2011 Network & Commercial Integration 2012 Core Systems Migration Fleet Interchangeability ERP Intra Hub Connectivity 2015 Single Operations Management Airport Optimization Model MRO and CEO (3) Cost Control Initiatives Potential Cost-Reduction Synergies: US$80MM Network / Fleet Optimization EBIT Margin: ~4.5% (2) 5.3% 6.6% 8.4% 6.2% 5.7% 7.2% 7.0% - 9.0% Shared Strengths and Values Complementary Fleet Experience operating widebody aircraft offers new opportunities for traffic from Central America and Lima Customer Service Approach Both airlines shared similar brand and customer strategies, providing a high standard of service Complementary Routes Complementary networks offer a unique growth proposition in Central and South America Only 2 routes overlapped before combination Great Talent Talent and commitment aligned with objectives and similar cultures 5 Source: Company. (1) Consolidated figures for the eleven months ended December 31, (2) Includes EBIT contribution of Avianca S.A. and GTH. (3) Maintenance, Repair and Overhaul providers ( MRO ) and Operational Excellence Center ( CEO ).

6 Leading Airline with Strategic Footprint in the Americas US$4,081 mm Total Revenues in 2016 Geographic Footprint US$879mm Total EBITDAR in Passenger and 12 Freighter Aircraft (1) as of September 2017 Average Jet Fleet Age of 7.2 Years 3 Hubs: Bogota, San Salvador and Lima (NY008B8R) _1.wor 100+ Destinations and 6,000+ Weekly Departures Leading Loyalty Coalition Program with 7.5+ mm Members Complementary Business Lines 20% of Consolidated Revenues in 2016 Single commercial code Single Avianca brand Single website Interchangeability of aircraft Avianca Brasil (2) Colombia Domestic Intra-Home Markets (4) Home Markets to Spain #1 #1 #2 Courier 54.5% Market Share (3) 68.4% Market Share (3) 24.6% Market Share (3) 6 Source: Company, Aeronáutica Civil de Colombia, and internal data derived from Travelport Marketing Information Data Tapes ( MIDT ). Note: market shares based on number of passengers. (1) 5 Airbus 330F, 5 Airbus 300F and 2 Boeing 767F (2) Brazilian operations reflect the code-share agreement with Oceanair ( Avianca Brasil ), including the licensing of the Avianca trademark (3) Sourced from Company, as of September 2017 (4) International traffic within our Home Markets (Colombia, Ecuador, Peru, El Salvador, Costa Rica, Nicaragua, Honduras, Guatemala, Belize, excluding Central American & Caribbean (non-regional))

7 Leading Airline in Latin America focused on service excellence

8 Leading Airline in Latin America Leading Position in Latin American Markets (1) Significant Market Share Gains in Key Markets Passenger Evolution (MM) Colombia (4) Peru (4) #1 #2 Ecuador Domestic 23.6% Market Share #3 Colombia Domestic 54.5% Market Share #4 Leading Airline with Strategic Footprint in the Americas (5) Unparalleled route network connecting the Americas Leadership position in the markets served: ~54.5% domestic market share in Colombia ~68.4% market share in Intra-Home Markets (6) Peru Domestic 10.9% Market Share Brazil Domestic (2) 11.8% Market Share 24.0% Market Share in Core Network (3) ~24.6% market share in Home Markets to Spain routes Domestic Operations Avianca Brasil (2) Undisputed leadership connecting passengers across our home markets with one another and with North America, Europe and South America 8 Source: Company and local regulators. (1) Market share based on number of passengers. Colombia: Sep 17, Perú: Jul 17 and Ecuador: 17. (2) Brazilian operations reflect the code-share agreement with Oceanair ( Avianca Brasil ), including the licensing of the Avianca trademark. (3) Reflects market share in the routes it operates as of April (4) Based on domestic and international passengers. Colombia, as of September 2017 / Peru, as of July 2017 (5) Market shares sourced from Company. (6) International traffic within our Home Markets (Colombia, Ecuador, Peru, El Salvador, Costa Rica, Nicaragua, Honduras, Guatemala,Belize, excluding Central American & Caribbean (non-regional)).

9 Successful Fleet Optimization Leading to Reduced Complexity Families Average Jet Fleet Age of 10.1 Years Families Long Term Fleet 4 Families by 2020 A330 B737 F100 Boeing 787 B767F Boeing 787 A320 Neo A320 B767 Regional A320 Family (1) E190 More fuel efficient than many similarly sized airplanes 15% less fuel consumption Up to 500nm of additional range Up to 3% cost savings ATR 72 / 42 Cessna 208 ATR72 A330F E190 MD83 B757 A330 Pax / 330F /300F ATR72s for improved regional capacity 40% more cargo capacity vs. previous cargo fleet Backlog Designed to Enhance Fleet Efficiency (2) Increased fuel efficiency Increased regional capacity Total Modern fleet providing platform for higher profitability Improved technical dispatch reliability Reduced training costs and maintenance expenses Improved range and network performance New A321 Neo (2 for 2017): First Latin American airline to operate it; allows savings of up to 20% in jet fuel, reduces up to 50% acoustic footprint and reduces the emission of CO2 by plane by 5K tons; Jet passenger operative B A A A Opportunity to upgage in congested markets Fleet average age: 6.3 years Total (1) Source: Company. (1) The Airbus A320 Family is comprised of 10 A318, 16 A319, 49 A320, 2 A321, 10 A319sharklets, 13 A320sharklets and 9 A321sharklets. (2) Avianca also has rights to purchase up to 10 Boeing 787 Dreamliners and 15 ATR72s. In April 30, 2015, the Company signed a Purchase Contract for a total of 100 A320 New Engine Option (NEO) family aircraft with deliveries between 2019 and 2024, which are included in the contractual delivery schedule set above. In line with our initiatives directed towards enhancing profitability, achieving a leaner capital structure and reducing the current levels of debt, in April 2016, Avianca negotiated with Airbus a significant reduction of its scheduled aircraft deliveries for 2016, 2017, 2018 and 2019 and certain changes to the type of aircraft (both upgrades and downgrades), but did not alter the total deliveries scheduled between 2016 and 2025.

10 Strong Operational and Financial Performance

11 Demand outgrows capacity deployment resulting in record Load Factor Region 3Q17 RPK Growth 3Q17 ASK Growth 3Q17 Load Factor 3Q17 Insights Domestic* -3,2% -7,4% 84,8% Capacity reduction in September (last 10 days) due to pilots' strike with slight traffic impact Intra Home Markets 1 7,5% 3,5% 79,0% Strong competitive position in strategic markets drives demand growth HM to North America 2 6,4% 4,9% 86,3% Traffic and yield improvement above capacity growth HM to South America 3 1,2% 3,5% 84,0% Yield and demand growth driven by economic recovery, supports capacity increase in core markets Central America & Caribbean 4 11,9% 1,7% 78,5% Broad traffic growth with yield improvement driven by economic recovery Home Markets to Europe 12,2% 16,1% 87,8% Strong capacity expansion with traffic and yield growth Total RPK Growth 4.9% ASK Growth 3.5% Load Factor 84.6% 11 *Domestic Market: Colombia, Peru, Ecuador 1 Local Intra-Markets: Colombia, Peru, Ecuador, Salvador, Costa Rica, Guatemala; 2 From Local Markets to North América including México 3 From Colombia, Perú, Ecuador and Costa Rica to Bolivia, Chile, Argentina, Brazil and Uruguay, 4 Belize, Cuba Curazao, Republica Dominicana, Panamá, Costa Rica, Guatemala, Honduras, Nicaragua

12 Demand recovery in core markets drive yield improvement RPKs Millions: Strong demand growth outpaces Aviancas Quarterly RPK 9 Months RPK RPK ex-strike ASKs Millions: capacity deployment across the network Quarterly ASK 9 Months ASK ASK ex-strike % % +11.0% % % +7.1% % +6.1% 3Q14 3Q15 3Q16 3Q17 9M16 9M17 3Q14 3Q15 3Q16 3Q17 9M16 9M17 Load Factor: 3Q17 has the strongest LF in company history Quarterly Load Factor 9 Months Load Factor Load Factor, ex-strike Yield - US : Continued yield recovery Quarterly Yield 9 Months Yield Yield, ex-strike 81,3% 81,3% +175 bp 85,2% 83,5% 84,6% +112 bp 80,1% +294 bp 83,0% 82,8% 11,9 11,9 9,5 9,5 +4.3% 8,8 9,2 8,8 8,9 8,6 8,6 +2.1% + 0.9% 8,8 8, bp + 0.9% 3Q14 3Q15 3Q16 3Q17 9M16 9M17 3Q14 3Q15 3Q16 3Q17 9M16 9M17 12 Source: Company Information Bp: Basics points

13 Avianca remains committed to pursue a leaner cost structure (Unadjusted) Revenues US M: Network flexibility and positive demand drive revenue increase Passenger Non-passanger Revenues RASK US CASK Continuous cost cutting initiatives decrease unitary ex fuel cost 11,2 1, ,4 8,9 9,4 1,161 1,117 1, ,9 8,7 3,033 3, ,0 10,0 8,0 6,0 4,0 CASK Ex-fuel 10,7 7,4 9,0 8,2 8,5 6,8 6,4 6,6 12,0 10,0 8,1 8,3 8,0 6,5 6,4 6,0 4,0 2,0 2,0 3Q14 3Q15 3Q16 3Q17 9M16 9M17-3Q14 3Q15 3Q16 3Q17-9M16 9M17 EBITDAR US Millions EBIT US M: Avianca continuous its path to sustainable margin expansion EBITDAR EBIT EBITDAR Margin EBIT Margin 21,6% 22,0% 19,1% 16,6% 255,0 202,5 212,9 229,1 20,1% 610,3 20,6% 682,6 5,8% 70 6,5% 72 7,9% 83 9,2% ,1% 6,0% 3Q14 3Q15 3Q16 3Q17 9M16 9M17 3Q14 3Q15 3Q16 3Q17 9M16 9M17 13 Source: Company Information 1. Q: Quarterly 2. A: Annual

14 Avianca remains committed to pursue a leaner cost structure (Adjusted) Revenues 1 US M: Network flexibility and positive demand drive revenue increase Passenger Non-passanger Revenues RASK US CASK Continuous cost cutting initiatives decrease unitary ex fuel cost 11,2 CASK Ex-fuel 9,4 8,9 9,6 8,5 9,0 1, ,093 1, , ,977 3, ,0 10,0 8,0 6,0 4,0 10,5 7,2 8,7 8,2 8,6 6,5 6,4 6,6 12,0 10,0 7,9 8,3 8,0 6,3 6,4 6,0 4,0 2,0 2,0 3Q14 3Q15 3Q16 3Q17 9M16 9M17-3Q14 3Q15 3Q16 3Q17-9M16 9M17 EBITDAR 1 US Millions EBIT 1 US M: Avianca continuous its path to sustainable margin expansion EBITDAR EBIT EBITDAR Margin EBIT Margin 17,0% 202,5 20,4% 21,6% 222,6 229,1 23,4% 278,6 27,0% 22,0% 20,9% 17,0% 12,0% 622,4 7,0% 21,1% 708,7 22,0% 21,0% 20,0% 19,0% 18,0% 17,0% 16,0% 5,9% 70 7,5% 82 7,9% 83 11,0% 132 6,5% 193 7,9% 265 3Q14 3Q15 3Q16 3Q17 2,0% 9M16 9M17 15,0% 3Q14 3Q15 3Q16 3Q17 9M16 9M17 14 Source: Company Information 1. When indicated the figures are adjusted by the following one-time items:$-31,580m: ACDAC s Foregone Revenues; $-14,530M: ACDAC s operatives expenses; $ 6,522M: Aerogal's Reservs Adjust, Opex; $ 1,356MM: Engines Incidents B787, Opex. 2. Q: Quarterly 3. A: Annual

15 Debt Overview and Deleveraging Plan 3Q17 Debt Profile Type (1) Currency Avg. Rate USD Bonds By Type (1) Colombian Pesos By Currency 1,91% 3,76% Euros Aircraft Debt U.S. Dollars 3.53% Bonds Colombian Pesos 11.19% COP Bonds 1,83% 16,49% 59,66% Bonds U.S. Dollars 7.95% Corporate Debt U.S. Dollars 4.56% Total 4.65% USD Corporate Debt 22,03% USD Aircraft Debt 94,33% U.S. Dollars 3Q17 Debt Amortization Schedule (US$MM) AIRCRAFT CORPORATE DEBT BONDS Source: Company. (1) Excludes US$6.3 Millions of corporate debt in COP and US$128.2 Millions of aircraft debt in EUR. (2) Current installments of long term debt + long term debt cash. Cash includes cash and cash equivalents + restricted cash + available for sale securities + short term certificates of bank deposits + long term restricted cash. (3) Current installments of long term debt + long term debt + (aircraft rentals 12M x 7) cash. Cash includes cash and cash equivalents + restricted cash + available for sale securities + short term certificates of bank deposits + long term restricted cash. (4) Consolidated net profit for the period plus the sum of income tax expense, depreciation, amortization and impairment and aircraft rentals, minus interest expense, minus interest income, minus derivative instruments, minus foreign exchange. (5) EBITDAR coverage ratio calculated as EBITDAR divided by the sum of aircraft leases and interest expense.

16 Diversified Sources of Revenue with Growing Non-Passenger Businesses

17 Avianca Holdings: More Than an Airline Business Lines Business Overview Brands Key Highlights (2017) Result of the combination of Avianca and Taca with $3,3 Billions passenger revenue Passenger Transport complementary operations in Andean Region and Central America Extensive route network from hubs in Bogota, San 168 passenger aircraft (1) 28 countries reached Salvador and Lima Member of Star Alliance since ,000+ weekly departures Courier and Cargo Services 13 freighter aircraft complemented by passenger fleet bellies Deprisa is a leading express courier operation in Colombia with broad domestic and international product portfolio; UPS allied in Colombia Strong brand recognition and reputation in Colombia Courier 12 cargo aircraft (1) $671mm revenue 1,917 mm ATKs (2) 1,054 mm RTKs (2) 41.1% 11.0% market Share Colombia Miami Loyalty Business One of the largest coalition loyalty programs in Latin America 20-year agreement, guaranteed exclusivity and seat availability from Avianca 7.5+ mm members (3) 626k+ active co-branded credit cards +322 commercial Partners Solid burn-to-earn ratio Freddie award winner Other Services Aircraft maintenance, crew training and other airport services to other carriers Travel-related services to customers including allinclusive vacation deals In-flight duty-free sales 12% YoY growth in 2015 in revenue from external clients 2,700+ hours of flight simulators commercialized 17 Source: Company. (1) Considers 5 Airbus 330F, 5 Airbus 300F and 2 Boeing 767F. (2) Includes bellies and excludes Colombia domestic operations. Includes commercial agreements with OceanAir Linhas Aereas, not included in official statistics. (3) Last twelve month figures ending June 30, 2017.

18 LifeMiles

19 LifeMiles at-a-glance Strong Brand Recognition Strong and Growing Network Commercial Partners Co-Branded Credit Cards Selected Air Companies LifeMiles won 2 categories in the 2017 Freddie Awards Selected Financial Institutions Best Redemption Ability, Best Promotion, Up-and-Coming Program Best Promotion Redemption Ability Best Promotion ~70 banks with active contracts Selected Regional Hotels 1 Up and Coming Program 1 1 Best Promotion Up and Coming Program 1 Up and Coming Program Other Selected Commercial Partners Members (MM) Robust Financial and Performance and Leading Market Positions Geographic Presence Quarterly Highlights 4,4 4,9 5,4 6 6,5 7 7,52 3Q 17 revenues increased 8.8% vs 3Q K active cobranded credit cards, an increase of 21.7% vs. 3Q 16 More than 7.5 million members, a 9.0% increase vs. 3Q Q17 Home Markets (1) 322 commercial partners, +6.3% vs 3Q Source: Company. (1) LifeMiles home markets include Colombia, Peru, Ecuador and Central America.

20 Avianca Cargo

21 Increasing Footprint in Latin American Markets Segment Overview Key Metrics (Cargo and Courier) First A330F operating under Peruvian certification (COA) Revenue (US$MM) (2) ATK (MM) (3) allowing for more efficient asset utilization and network optimization Revenue ex-strike +28.6% +11.9% 149 Strong performance for 3 Quarter 2017, with an increase of +8.8% in transported tons when compared to same period in % New A330Fs provide reduced unit costs, higher capacity (up to 3Q16 3Q17 3Q16 3Q17 40% more than the previous fleet) (1) and improved reliability RTK (MM) (3) Load Factor +18.5% 325 bp ,20% 58,45% 3Q16 3Q17 3Q16 3Q17 Market Share Colombia (2017) (4) Market Share Miami (2017) (5) (% Market share by freight carried) (% Market share by freight carried) 41,1% 44,0% 25,2% 8,6% 8,6% 8,6% 4,9% 3,1% 13,3% 11,5% 11,0% 8,0% 6,3% 6,0% AVH Atlas Latam UPS Skylease Cargolux Others Atlas UPS AVH Amerijet American Airlines Latam Others 21 Source: Company. (1) On a per trip basis. (2) Includes consolidated revenues from the cargo operation in Mexico. (3) Includes bellies and excludes Colombia domestic operations. Includes commercial agreements with OceanAir Linhas Aereas, not included in official statistics. (4) International Cargo Aeronáutica Civil de Colombia (as of June 2017) (5) Miami-Dade Aviation Statistics, by airline group (as of June 2017)

22 Full Year Outlook and Additional Information

23 Avianca is committed to achieve its full year outlook

24 Labor conflict to be resolved by arbitration tribunal as established in Colombia's Labor Code Antecedents to Pilot Strike 1) June 15, ACDAC pilot union approves list of request to be presented to AVIANCA S.A. 1 2) August 8, ACDAC presents list of requests to AVIANCA S.A. 1 3) Direct negotiation with pilot union ACDAC lasts from Aug. 23 Sep. 11 AVIANCA S.A. 1 Sues AVIANCA S.A. 1 sues ACDAC pilot union due to illegal cessation of activities WEEK 1 Pilots Begin Strike Despite various proposals presented by Avianca S.A. 1 to pilots union, pilots make unilateral decision to initiate illegal cessation of activities on Sep. 20 th Court Rules in AVIANCA s Favor Bogota Superior Tribunal rules in favor of AVIANCA S.A. 1, declaring pilot strike illegal Pilots union appeals; suit is elevated to Colombian Supreme Court (CSC) WEEK 2 WEEK 3 WEEK 4 WEEK 5 WEEK 6 WEEK 7 Arbitration Tribunal Given negative impact on Colombia's Air travel and economy, Government convenes obligatory arbitration tribunal, where three arbitrators reach a compromise between union and airline Pending Court Action Audio file of initial verdict is reconstructed and resubmitted to the Colombian Supreme Court, which will issue a definitive verdict regarding the illegal cessation of activities Rulings are Delayed 1) CSC returns ruling to High Court of Bogota due to technicality regarding quality of verdict recording 2) ACDAC files several lawsuits against creation of Arbitration Tribunal to delay process Arbitration Tribunal The third arbitrator resigns, further delaying the start of the Arbitration Tribunal; appointment of replacement pending Strike Lifted 1) ACDAC votes to end the strike after 51 days 2) 207 Pilots resume work with AVIANCA S.A. 1 Looking ahead 1)The labor tribunal should define working conditions going forward 2)CSC will issue definitive verdict regarding the illegal cessation of activities 24 Source: Company Information 1. Avianca S.A. refers to the Colombian entity operating under Avianca Holdings S.A.

25 Cost Impact AVIANCA s contingency plan mitigates effects of pilot strike Revenue Impact Strike Impact on EBIT 9,2% EBIT Adjusted ex-acdac 10 strike days took place in the 3Q17. The resulting impact translates into USD $ $ 2.5 Million per day in forgone revenues, while variable costs decreased between USD $ $ 1.5 Million per day. On September 20 th approx. 700 Avianca Colombia Pilot members of the ACDAC union, of a total of 1350 Pilots, went on strike effectively reducing the company's deployable capacity, measured in ASK, by 45% Avianca has no restrictions on ticket sales; therefore, all tickets for flights operated by Avianca are currently available for sale, which significantly reduced passenger compensation Avianca quickly enacted a contingency plan to mitigate the impact, larger capacity aircraft were deployed, more efficient use of staff, change in mix of operating carriers, focus on operation of key domestic city pairs, wet lease aircraft deployed. Avianca also shifted administrative staff to work at airports; Administrative savings program. Avianca confirms EBIT margin guidance of 7%-9% despite impact of pilots strike For the Fourth Quarter peak season, Avianca Colombia will continue to incorporate new pilots and returning pilots into its domestic operations, to operate as closely as possible to its pre-strike capacity (measured in ASK) 25 Source: Company Information

26 Thank You Contact Information: Investor Relations Office T: (57)

27 Reconciliation of Adjusted EBITDAR This presentation includes certain references to non-ifrs measures such as our Adjusted EBITDAR and Adjusted EBITDAR margin. Adjusted EBITDAR represents our consolidated net profit for the year plus the sum of income tax expense, depreciation, amortization and impairment, aircraft rentals and interest expense, minus interest income, minus derivative instruments, minus foreign exchange. Adjusted EBITDAR is presented as supplemental information, because we believe it is a useful indicator of our operating performance and is useful in comparing our operating performance with other companies in the airline industry. However, Adjusted EBITDAR should not be considered in isolation, as a substitute for net profit determined in accordance with IFRS or as a measure of a company s profitability. These supplemental financial measures are not prepared in accordance with IFRS or Colombian GAAP. Accordingly, you are cautioned not to place undue reliance on this information and should note that Adjusted EBITDAR and Adjusted EBITDAR margin, as calculated by us, may differ materially from similarly titled measures reported by other companies, including our competitors. Adjusted EBITDAR is commonly used in the airline industry to view operating results before depreciation, amortization and aircraft operating lease charges, as these costs can vary significantly among airlines due to differences in the way airlines finance their aircraft and other asset acquisitions. However, Adjusted EBITDAR should not be considered as an alternative measure to operating profit, as an indicator of operating performance, as an alternative to operating cash flows or as a measure of our liquidity. Adjusted EBITDAR as calculated by us and as presented in this presentation may differ materially from similarly titled measures reported by other companies due to differences in the way these measures are calculated. Adjusted EBITDAR has important limitations as an analytical tool and should not be considered in isolation from, or as a substitute for an analysis of, our operating results as reported under IFRS or Colombian GAAP. Some of the limitations are: Adjusted EBITDAR does not reflect cash expenditures or future requirements for capital expenditures or contractual commitments; Adjusted EBITDAR does not reflect changes in, or cash requirements for, working capital needs; Adjusted EBITDAR does not reflect the interest expense or the cash requirements necessary to service interest or principal payments on debt; Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDAR does not reflect any cash requirements for such replacements; Adjusted EBITDAR does not reflect expenses related to leases of flight equipment and other related expenses; and other companies may calculate Adjusted EBITDAR or similarly titled measures differently, limiting its usefulness as a comparative measure. 27

Corporate Presentation March 2018

Corporate Presentation March 2018 Corporate Presentation March 2018 Disclaimer The material that follows comprises information about Avianca Holdings S.A. (the Company ) and its subsidiaries, as of the date of the presentation. It has

More information

Corporate Presentation August 2017

Corporate Presentation August 2017 Corporate Presentation August 2017 Disclaimer The material that follows comprises information about Avianca Holdings S.A. (the Company ) and its subsidiaries, as of the date of the presentation. It has

More information

3Q Earnings Results Presentation

3Q Earnings Results Presentation 3Q Earnings Results Presentation SAFE HARBOR The present document consolidates information from Avianca Holdings S.A. and its subsidiaries, including unaudited financial figures, operational managerial

More information

2Q Earnings Results Presentation

2Q Earnings Results Presentation 2Q Earnings Results Presentation SAFE HARBOR The present document consolidates information from Avianca Holdings S.A. and its subsidiaries, including unaudited financial figures, operational managerial

More information

Avianca Holdings S.A. 1Q 2018 Earnings Presentation 2018

Avianca Holdings S.A. 1Q 2018 Earnings Presentation 2018 Avianca Holdings S.A. 1Q 2018 Earnings Presentation 2018 Disclaimer The present document consolidates information from Avianca Holdings S.A. and its subsidiaries, including unaudited financial figures,

More information

December 2016 Corporate Presentation. B787 Dreamliner

December 2016 Corporate Presentation. B787 Dreamliner December 2016 Corporate Presentation B787 Dreamliner Disclaimer The material that follows comprises information about Avianca Holdings S.A. (the Company ) and its subsidiaries, as of the date of the presentation.

More information

2Q 2016 Earnings Results Presentation. B787 Dreamliner

2Q 2016 Earnings Results Presentation. B787 Dreamliner 2Q 2016 Earnings Results Presentation B787 Dreamliner 2 The present document consolidates information from Avianca Holdings SA and its subsidiaries, including unaudited financial figures, operational managerial

More information

Avianca Holdings S.A. 4Q 2018 Earnings Presentation

Avianca Holdings S.A. 4Q 2018 Earnings Presentation Avianca Holdings S.A. 4Q Earnings Presentation Disclaimer The present document consolidates information from Avianca Holdings S.A. and its subsidiaries, including unaudited financial figures, operational

More information

3Q 2016 Earnings Results Presentation. B787 Dreamliner

3Q 2016 Earnings Results Presentation. B787 Dreamliner 3Q 2016 Earnings Results Presentation B787 Dreamliner 2 The present document consolidates information from Avianca Holdings SA and its subsidiaries, including unaudited financial figures, operational managerial

More information

Third Quarter 2017 Highlights

Third Quarter 2017 Highlights Avianca Holdings Reports Third Quarter 2017 Adjusted Operating Income 1 of $131.5 Million Bogota, Colombia, November 14, 2017 Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) today reported its financial

More information

Fourth Quarter 2017 Highlights

Fourth Quarter 2017 Highlights Avianca Holdings Reports Fourth Quarter 2017 Adjusted Operating Income 1 of $169.1 Million Bogota, Colombia, February 27, 2018 Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) today reported its financial

More information

UBS 14 th Global Emerging Markets Conference. New York, November 2016

UBS 14 th Global Emerging Markets Conference. New York, November 2016 UBS 14 th Global Emerging Markets Conference New York, November 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006

Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006 Copa Holdings Reports Record Earnings of US$41.8 Million for 4Q06 and US$134.2 Million for Full Year 2006 Panama City, Panama --- March 7, 2007. Copa Holdings, S.A. (NYSE: CPA), parent company of Copa

More information

Q3 FY18 Business Highlights

Q3 FY18 Business Highlights Q3 FY18 RESULTS Q3 FY18 Business Highlights 1 2 3 4 5 6 7 Record passengers 7.1m, record revenues 423m Investing in growth 24% passenger growth in Q3 Disciplined cost management flat ex-fuel CASK Largest

More information

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018

Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Copa Holdings Reports Net Income of $49.9 million and EPS of $1.18 for the Second Quarter of 2018 Panama City, Panama --- Aug 8, 2018. Copa Holdings, S.A. (NYSE: CPA), today announced financial results

More information

Santander 22 nd Annual Latin American Conference. Cancun, January 2018

Santander 22 nd Annual Latin American Conference. Cancun, January 2018 Santander 22 nd Annual Latin American Conference Cancun, January 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012

Fourth Quarter and Full Year 2011 Results Presentation. February 1, 2012 Fourth Quarter and Full Year 2011 Results Presentation February 1, 2012 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Second quarter 2013 Results Presentation. August, 2013

Second quarter 2013 Results Presentation. August, 2013 Second quarter 2013 Results Presentation August, 2013 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating results. These

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of $103.8 million and EPS of $2.45 for the Third Quarter of 2017 Excluding special items, adjusted net income came in at $100.8 million, or EPS of $2.38 per share Panama

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2018 Excluding special items, adjusted net profit came in at $44.0 million, or Adjusted EPS of $1.04 Panama City, Panama --- February 13,

More information

Analyst and Investor Conference Call Q Ulrik Svensson, CFO and Member of the Executive Board

Analyst and Investor Conference Call Q Ulrik Svensson, CFO and Member of the Executive Board Analyst and Investor Conference Call Q2 2017 Ulrik Svensson, CFO and Member of the Executive Board Frankfurt, 2 August 2017 Disclaimer The information herein is based on publicly available information.

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Net Income of US$18.6 Million and EPS of US$0.42 for the Second Quarter of 2010 Excluding special items, adjusted net income came in at $26.3 million, or $0.60 per share Panama City,

More information

Cebu Air, Inc. 2Q2014 Results of Operation

Cebu Air, Inc. 2Q2014 Results of Operation Cebu Air, Inc. 2Q2014 Results of Operation 1 Disclaimer This information provided in this presentation is provided only for your reference. Such information has not been independently verified and, as

More information

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS Copa Holdings Reports Net Income of US$6.2 Million and EPS of US$0.14 for the Third Quarter of 2015 Excluding special items, adjusted net income came in at $37.4 million, or EPS of $0.85 per share Panama

More information

Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference. Miami, May 2018

Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference. Miami, May 2018 Bank of America Merrill Lynch 2018 Emerging Markets Corporate Credit Conference Miami, May 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated

More information

LAN AIRLINES REPORTS NET INCOME OF US$88.3 MILLION FOR THE FIRST QUARTER OF 2010

LAN AIRLINES REPORTS NET INCOME OF US$88.3 MILLION FOR THE FIRST QUARTER OF 2010 FOR IMMEDIATE RELEASE LAN AIRLINES REPORTS NET INCOME OF US$88.3 MILLION FOR THE FIRST QUARTER OF 2010 Santiago, Chile, April 27, 2010 LAN Airlines S.A. (NYSE: LFL), one of Latin America s leading passenger

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Financial Results for the First Quarter of 2016 Excluding special items, adjusted net income came in at US$69.9 million, or EPS of US$1.66 per share Panama City, Panama --- May 5,

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Financial Results for the Fourth Quarter of 2015 Excluding special items, adjusted net income came in at $31.7 million, or EPS of $0.73 per share Panama City, Panama --- February

More information

ABX HOLDINGS, INC. Shareholders Meeting. May 13, 2008

ABX HOLDINGS, INC. Shareholders Meeting. May 13, 2008 Shareholders Meeting May 13, 2008 1 1 1 Safe Harbor Statement Except for historical information contained herein, the matters discussed in this presentation contain forward-looking statements that involve

More information

OPERATING AND FINANCIAL HIGHLIGHTS

OPERATING AND FINANCIAL HIGHLIGHTS Copa Holdings Reports Net Income of US$32.0 Million and EPS of US$0.72 for the Second Quarter of 2012 Excluding special items, adjusted net income came in at $58.6 million, or EPS of $1.32 per share Panama

More information

Half Year F1 Results. November 4, 2015

Half Year F1 Results. November 4, 2015 Half Year F1 Results November 4, 2015 F17 Q1 Results 20 JULY 2016 Q1 BUSINESS HIGHLIGHTS Passenger growth of 18% to 5.8m pax on 17% seat growth Record underlying profit of 38.6m (+14%) despite Easter effect

More information

Bank of America Merrill Lynch Emerging Markets Corporate Conference. Miami, June 2016

Bank of America Merrill Lynch Emerging Markets Corporate Conference. Miami, June 2016 Bank of America Merrill Lynch Emerging Markets Corporate Conference Miami, June 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial

More information

J.P. Morgan 2019 Global Emerging Markets Corporate Conference. Miami, February 2019

J.P. Morgan 2019 Global Emerging Markets Corporate Conference. Miami, February 2019 J.P. Morgan 2019 Global Emerging Markets Corporate Conference Miami, February 2019 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial

More information

LATAM AIRLINES GROUP REPORTS OPERATING INCOME OF US$267 MILLION FOR FOURTH QUARTER 2014 AND US$513 FOR FULL YEAR 2014

LATAM AIRLINES GROUP REPORTS OPERATING INCOME OF US$267 MILLION FOR FOURTH QUARTER 2014 AND US$513 FOR FULL YEAR 2014 LATAM AIRLINES GROUP REPORTS OPERATING INCOME OF US$267 MILLION FOR FOURTH QUARTER 2014 AND US$513 FOR FULL YEAR 2014 Santiago, Chile, March 17, 2015 (NYSE: LFL; IPSA: LAN; BOVESPA: LATM33), the leading

More information

FOURTH QUARTER RESULTS 2017

FOURTH QUARTER RESULTS 2017 FOURTH QUARTER RESULTS 2017 KEY RESULTS In the 4Q17 Interjet total revenues added $5,824.8 million pesos that represented an increase of 10.8% over the revenue generated in the 4Q16. In the 4Q17, operating

More information

Adjusted net income of $115 million versus an adjusted net loss of $7 million in the second quarter of 2012, an improvement of $122 million

Adjusted net income of $115 million versus an adjusted net loss of $7 million in the second quarter of 2012, an improvement of $122 million Air Canada Reports Record Second Quarter 2013 Results Highest Adjusted Net Income, Operating Income and EBITDAR Results for Second Quarter in Air Canada s History Adjusted net income of $115 million versus

More information

SECOND QUARTER RESULTS 2018

SECOND QUARTER RESULTS 2018 SECOND QUARTER RESULTS 2018 KEY RESULTS In the 2Q18 Interjet total revenues added $ 5,781.9 million pesos that represented an increase of 9.6% over the revenue generated in the 2Q17. In the 2Q18, operating

More information

Copa Holdings Reports Fourth Quarter and Full Year 2007 Results

Copa Holdings Reports Fourth Quarter and Full Year 2007 Results Copa Holdings Reports Fourth Quarter and Full Year 2007 Results Panama City, Panama --- February 21, 2008. Copa Holdings, S.A. (NYSE: CPA), parent company of Copa Airlines and Aero Republica, today announced

More information

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS

OPERATING AND FINANCIAL HIGHLIGHTS SUBSEQUENT EVENTS Copa Holdings Reports Financial Results for the Third Quarter of 2016 Excluding special items, adjusted net income came in at $55.3 million, or adjusted EPS of $1.30 per share Panama City, Panama --- November

More information

Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018

Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018 Copa Holdings Reports Net Income of $57.7 million and EPS of $1.36 for the Third Quarter of 2018 November 14, 2018 PANAMA CITY, Nov. 14, 2018 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today announced

More information

Thank you for participating in the financial results for fiscal 2014.

Thank you for participating in the financial results for fiscal 2014. Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots

More information

Deutsche Bank 16 th Annual Global Emerging Markets. New York, September 2017

Deutsche Bank 16 th Annual Global Emerging Markets. New York, September 2017 Deutsche Bank 16 th Annual Global Emerging Markets New York, September 2017 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and

More information

Copa Holdings Reports Earnings of US$30.3 Million and EPS of US$0.70 for 3Q08

Copa Holdings Reports Earnings of US$30.3 Million and EPS of US$0.70 for 3Q08 Copa Holdings Reports Earnings of US$30.3 Million and EPS of US$0.70 for 3Q08 Panama City, Panama --- November 13, 2008. Copa Holdings, S.A. (NYSE: CPA), parent company of Copa Airlines and Aero Republica,

More information

Copa Holdings Reports Net Income of US$51.9 Million for the Fourth Quarter of 2008 and US$152.2 Million for Full Year 2008

Copa Holdings Reports Net Income of US$51.9 Million for the Fourth Quarter of 2008 and US$152.2 Million for Full Year 2008 Copa Holdings Reports Net Income of US$51.9 Million for the Fourth Quarter of 2008 and US$152.2 Million for Full Year 2008 Panama City, Panama --- February 19, 2009. Copa Holdings, S.A. (NYSE: CPA), parent

More information

Santander 20 th Annual Latin America CEO Conference Cancun, January 2016

Santander 20 th Annual Latin America CEO Conference Cancun, January 2016 Santander 20 th Annual Latin America CEO Conference Cancun, January 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

Finnair Q Result

Finnair Q Result Finnair Q1 2015 Result 7 May 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Turbulent market environment The weakness of the Finnish economy continued to be reflected in the demand in the first

More information

THIRD QUARTER RESULTS 2017

THIRD QUARTER RESULTS 2017 THIRD QUARTER RESULTS 2017 KEY RESULTS In the 3Q17 Interjet total revenues added $5,835.1 million pesos that represented an increase of 22.0% over the revenue generated in the 3Q16. In the 3Q17, operating

More information

FIRST QUARTER RESULTS 2016

FIRST QUARTER RESULTS 2016 FIRST QUARTER RESULTS 2016 KEY RESULTS In 1Q16 Interjet total revenues added $3,850.8 million pesos that represented an increase of 21.9% over the income generated in the 1Q15. In 1Q16 total passengers

More information

Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com

Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations cebupacificair.com Disclaimer The information provided in this presentation is provided only for your reference. Such information has

More information

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events

OPERATING AND FINANCIAL HIGHLIGHTS. Subsequent Events Copa Holdings Reports Net Income of US$113.1 Million and EPS of US$2.57 for the First Quarter of 2015 Excluding special items, adjusted net income came in at US$106.0 million, or EPS of US$2.41 per share

More information

Copa Holdings Reports Net Income of US$113.9 Million for the Fourth Quarter of 2013

Copa Holdings Reports Net Income of US$113.9 Million for the Fourth Quarter of 2013 Copa Holdings Reports Net Income of US$113.9 Million for the Fourth Quarter of 2013 Panama City, Panama --- February 12, 2014. Copa Holdings, S.A. (NYSE: CPA), today announced financial results for the

More information

FIRST QUARTER RESULTS 2017

FIRST QUARTER RESULTS 2017 FIRST QUARTER RESULTS 2017 KEY RESULTS In the 1Q17 Interjet total revenues added $4,421.5 million pesos that represented an increase of 14.8% over the income generated in the 1Q16. In the 1Q17, operating

More information

THIRD QUARTER AND NINE MONTHS OF 2014 KEY RESULTS

THIRD QUARTER AND NINE MONTHS OF 2014 KEY RESULTS THIRD QUARTER AND NINE MONTHS OF 2014 KEY RESULTS In 3Q14 INTERJET total revenues were $ 3,643.4 million, representing an increase of 9.9% on revenues generated in the 3Q13. Accumulated 9M14 INTERJET total

More information

ABX. Holdings, Inc. BB&T Transportation Conference. February 2008

ABX. Holdings, Inc. BB&T Transportation Conference. February 2008 ABX Holdings, Inc. BB&T Transportation Conference February 2008 1 Safe Harbor Statement Except for historical information contained herein, the matters discussed in this presentation contain forward-looking

More information

THIRD QUARTER RESULTS 2018

THIRD QUARTER RESULTS 2018 THIRD QUARTER RESULTS 2018 KEY RESULTS In the 3Q18 Interjet total revenues added $ 6,244.8 million pesos that represented an increase of 7.0% over the revenue generated in the 3Q17. In the 3Q18, operating

More information

Fourth Quarter 2015 Financial Results

Fourth Quarter 2015 Financial Results Fourth Quarter 2015 Financial Results AerCap Holdings N.V. February 23, 2016 Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts

More information

INVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015

INVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015 INVESTOR PRESENTATION Imperial Capital Global Opportunities Conference September 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private

More information

LAN AIRLINES REPORTS NET INCOME OF US$4.2 MILLION FOR THE SECOND QUARTER OF 2009

LAN AIRLINES REPORTS NET INCOME OF US$4.2 MILLION FOR THE SECOND QUARTER OF 2009 FOR IMMEDIATE RELEASE LAN AIRLINES REPORTS NET INCOME OF US$4.2 MILLION FOR THE SECOND QUARTER OF 2009 Santiago, Chile, July 28, 2009 LAN Airlines S.A. (NYSE: LFL), one of Latin America s leading passenger

More information

INVESTOR PRESENTATION. May 2015

INVESTOR PRESENTATION. May 2015 INVESTOR PRESENTATION May 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the

More information

Avianca Holdings S.A. 2Q 2013 Earnings Results

Avianca Holdings S.A. 2Q 2013 Earnings Results Avianca Holdings S.A. 2Q 2013 Earnings Results 2 Disclaimer This presentation contains certain forward-looking statements. Such forward-looking statements involve a certain degree of risk and uncertainty

More information

Fourth Quarter 2006 Results Presentation February 15, 2007

Fourth Quarter 2006 Results Presentation February 15, 2007 Fourth Quarter 2006 Results Presentation February 15, 2007 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating results.

More information

Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018

Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018 Copa Holdings Reports Net Income of $136.5 million and EPS of $3.22 for the First Quarter of 2018 May 9, 2018 PANAMA CITY, May 9, 2018 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today announced financial

More information

Conference Call 1Q14 Results. Investor Relations May 15, 2014

Conference Call 1Q14 Results. Investor Relations May 15, 2014 Conference Call Results Investor Relations May 15, 2014 1 Highlights 2 Highlights Net revenues of R$2.5 billion in the quarter, an increase of 20% or R$411 million quarter-over-quarter; EBIT totaled R$144

More information

Fourth Quarter and Full Year 2009 Results Presentation January 27, 2010

Fourth Quarter and Full Year 2009 Results Presentation January 27, 2010 Fourth Quarter and Full Year 2009 Results Presentation January 27, 2010 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

LAN and TAM announce intention to combine. Investor Presentation August 13, 2010

LAN and TAM announce intention to combine. Investor Presentation August 13, 2010 LAN and TAM announce intention to combine Investor Presentation August 13, 2010 Forward Looking Statements This presentation contains forward-looking statements, including with respect to the negotiation,

More information

FILED: NEW YORK COUNTY CLERK 03/27/ :34 PM INDEX NO /2017 NYSCEF DOC. NO. 69 RECEIVED NYSCEF: 03/27/2017. Exhibit 13

FILED: NEW YORK COUNTY CLERK 03/27/ :34 PM INDEX NO /2017 NYSCEF DOC. NO. 69 RECEIVED NYSCEF: 03/27/2017. Exhibit 13 Exhibit 13 Avianca Holdings Reports Fourth Quarter 2016 Adjusted Operating Profit 1 of $102.1 Million Bogota, Colombia, February 28, 2017 Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) today reported its

More information

Virgin Australia Holdings Limited (ASX: VAH) H1 FY18 Results 1

Virgin Australia Holdings Limited (ASX: VAH) H1 FY18 Results 1 Virgin Australia Holdings Limited (ASX: VAH) H1 FY18 Results 1 Summary of H1 FY18 Group Outcomes 2 Group Underlying Profit Before Tax of $102.5 million up 142.3% Group Statutory Profit After Tax of $4.4

More information

AIR CANADA REPORTS 2010 THIRD QUARTER RESULTS; Operating Income improved $259 million or 381 per cent from previous year s quarter

AIR CANADA REPORTS 2010 THIRD QUARTER RESULTS; Operating Income improved $259 million or 381 per cent from previous year s quarter AIR CANADA REPORTS 2010 THIRD QUARTER RESULTS; Operating Income improved $259 million or 381 per cent from previous year s quarter MONTRÉAL, November 4, 2010 Air Canada today reported operating income

More information

Azul Increases Net Income by R$152 Million in 1Q18 Operating margin was a record 12.5% despite the 21% increase in oil year over year

Azul Increases Net Income by R$152 Million in 1Q18 Operating margin was a record 12.5% despite the 21% increase in oil year over year Azul Increases Net Income by R$152 Million in 1Q18 Operating margin was a record 12.5% despite the 21% increase in oil year over year São Paulo, May 10, Azul S.A., Azul, (B3:AZUL4, NYSE:AZUL) the largest

More information

BTG Pactual VI Latin American CEO Conference 2015 New York, October 2015

BTG Pactual VI Latin American CEO Conference 2015 New York, October 2015 BTG Pactual VI Latin American CEO Conference 2015 New York, October 2015 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating

More information

2012 Result. Mika Vehviläinen CEO

2012 Result. Mika Vehviläinen CEO 2012 Result Mika Vehviläinen CEO 1 Agenda Market environment in Q4 Business performance and strategy execution Outlook Financials 2 Market Environment According to IATA, Global air travel continues to

More information

Finnair Q Result

Finnair Q Result Finnair Q2 2015 Result 14 August 2015 CEO Pekka Vauramo, Interim CFO Mika Stirkkinen 1 Market environment shows signs of improvement There were signs of a recovery in the demand for consumer and business

More information

CONTACT: Investor Relations Corporate Communications

CONTACT: Investor Relations Corporate Communications NEWS RELEASE CONTACT: Investor Relations Corporate Communications 435.634.3200 435.634.3553 Investor.relations@skywest.com corporate.communications@skywest.com SkyWest, Inc. Announces Fourth Quarter 2017

More information

CONTACT: Investor Relations Corporate Communications

CONTACT: Investor Relations Corporate Communications NEWS RELEASE CONTACT: Investor Relations Corporate Communications 435.634.3200 435.634.3553 Investor.relations@skywest.com corporate.communications@skywest.com SkyWest, Inc. Announces Second Quarter 2017

More information

Air China Limited Annual Results. March Under IFRS

Air China Limited Annual Results. March Under IFRS Air China Limited 21 Annual Results Under IFRS March 211 Agenda Part 1 Highlights Part 2 Business Overview Part 3 Financial Overview Part 4 Outlook 2 Part 1 Highlights Steady Economic Growth; Asia Pacific

More information

Quarterly Interim Management Statement. Three Months to June 30, 2015

Quarterly Interim Management Statement. Three Months to June 30, 2015 Quarterly Interim Management Statement Three Months to June 30, 2015 BUSINESS HIGHLIGHTS FOR Q1 Record Q1 profitability despite negative Easter effect Lower unit costs further increasing our cost advantage

More information

AIR CANADA REPORTS THIRD QUARTER RESULTS

AIR CANADA REPORTS THIRD QUARTER RESULTS AIR CANADA REPORTS THIRD QUARTER RESULTS THIRD QUARTER OVERVIEW Operating income of $112 million compared to operating income of $351 million in the third quarter of 2007. Fuel expense increased 49 per

More information

SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 6-K

SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 6-K 6-K 1 gol20190104_6k1.htm GOL20190104_6K1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF

More information

First Quarter Results August 31 st, 2006

First Quarter Results August 31 st, 2006 First Quarter Results 2006-07 August 31 st, 2006 Key features of the First Quarter Market context Sustained global economic growth, and a recovery in Europe Average jet fuel price of 691 $/t, up 25% year-on-year

More information

SKYWEST, INC. ANNOUNCES THIRD QUARTER 2014 RESULTS

SKYWEST, INC. ANNOUNCES THIRD QUARTER 2014 RESULTS NEWS RELEASE For Further Information Contact: Investor Relations Telephone: (435) 634-3203 Fax: (435) 634-3205 FOR IMMEDIATE RELEASE: October 29, 2014 SKYWEST, INC. ANNOUNCES THIRD QUARTER 2014 RESULTS

More information

1Q 2017 Earnings Call. April 18, 2017

1Q 2017 Earnings Call. April 18, 2017 1Q 2017 Earnings Call April 18, 2017 Safe Harbor Statement Certain statements included in this presentation are forward-looking and thus reflect our current expectations and beliefs with respect to certain

More information

Investor Update Issue Date: April 9, 2018

Investor Update Issue Date: April 9, 2018 Investor Update Issue Date: April 9, 2018 This investor update provides guidance and certain forward-looking statements about United Continental Holdings, Inc. (the Company or UAL ). The information in

More information

MIRAMAR, Fla., April 29, 2015 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (Nasdaq:SAVE) today reported first quarter 2015 financial results.

MIRAMAR, Fla., April 29, 2015 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (Nasdaq:SAVE) today reported first quarter 2015 financial results. April 29, 2015 Spirit Airlines Announces First Quarter 2015 Results; Adjusted Net Income Increases 87.1 Percent to $70.7 Million and Pre-Tax Margin Increases 900 Basis Points to 22.7 Percent MIRAMAR, Fla.,

More information

Fourth Quarter & FY 2008 Results Presentation January 28, 2008

Fourth Quarter & FY 2008 Results Presentation January 28, 2008 Fourth Quarter & FY 2008 Results Presentation January 28, 2008 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating results.

More information

Wizz Air aims to increase market share with F17 capacity growth of 20% Q3 passenger growth of 20%, Load Factor of 88% (+2.3ppt)

Wizz Air aims to increase market share with F17 capacity growth of 20% Q3 passenger growth of 20%, Load Factor of 88% (+2.3ppt) Q3 F17 FINANCIAL RESULTS 1 FEBRUARY 2017 BUSINESS HIGHLIGHTS Current market conditions favour ULCCs Wizz Air aims to increase market share with F17 capacity growth of 20% Q3 passenger growth of 20%, Load

More information

J.P. Morgan 9 th Annual Global Emerging Markets Corporate Conference. Miami, February 2018

J.P. Morgan 9 th Annual Global Emerging Markets Corporate Conference. Miami, February 2018 J.P. Morgan 9 th Annual Global Emerging Markets Corporate Conference Miami, February 2018 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated

More information

Investor Relations Update January 25, 2018

Investor Relations Update January 25, 2018 General Overview Investor Relations Update Accounting Changes On January 1, 2018, the company adopted two new Accounting Standard Updates: (ASUs): ASU 2014-9: Revenue from Contracts with Customers (the

More information

Volaris Reports Strong First Quarter 2015: 32% Adjusted EBITDAR Margin, 9% Operating Margin

Volaris Reports Strong First Quarter 2015: 32% Adjusted EBITDAR Margin, 9% Operating Margin Volaris Reports Strong First Quarter 2015: 32% Adjusted EBITDAR Margin, 9% Operating Margin Mexico City, Mexico, April 22, 2015 Volaris* (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline serving

More information

American Airlines Group Reports Second-Quarter Profit

American Airlines Group Reports Second-Quarter Profit NEWS RELEASE American Airlines Group Reports Second-Quarter Profit 7/28/2017 FORT WORTH, Texas American Airlines Group Inc. (NASDAQ:AAL) today reported its second-quarter 2017 results, including these

More information

Enhancing air travel options through a strong focus on profitability and innovation. 4 th Quarter 2017 Earnings Report Grupo Viva Aerobus

Enhancing air travel options through a strong focus on profitability and innovation. 4 th Quarter 2017 Earnings Report Grupo Viva Aerobus 4 th Quarter 2017 Earnings Report Grupo Viva Aerobus Enhancing air travel options through a strong focus on profitability and innovation 1 VIVA AEROBUS REPORTS GROWTH OF 17.9% IN TOTAL OPERATING REVENUE

More information

E190 REPLACEMENT & FLEET UPDATE JULY 11, 2018

E190 REPLACEMENT & FLEET UPDATE JULY 11, 2018 1 E190 REPLACEMENT & FLEET UPDATE JULY 11, 2018 SAFE HARBOR This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A

More information

Management Presentation. March 2016

Management Presentation. March 2016 Management Presentation March 2016 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively

More information

Management Presentation. November 2018

Management Presentation. November 2018 Management Presentation November 2018 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively

More information

Air China Limited Interim Results. August Under IFRS

Air China Limited Interim Results. August Under IFRS Air China Limited 21 Interim Results Under IFRS August 21 1 Agenda 21 Interim Results Overview Business Overview Financial Overview Outlook 2 2 2 21 Interim Results 3 21 Interim Results Overview 4 4 4

More information

Spirit Airlines Reports First Quarter 2017 Results

Spirit Airlines Reports First Quarter 2017 Results Spirit Airlines Reports First Quarter 2017 Results MIRAMAR, Fla., April 28, 2017 - Spirit Airlines, Inc. (NASDAQ: SAVE) today reported first quarter 2017 financial results. GAAP net income for the first

More information

AIR CANADA REPORTS FIRST QUARTER RESULTS

AIR CANADA REPORTS FIRST QUARTER RESULTS AIR CANADA REPORTS FIRST QUARTER RESULTS As a result of the deconsolidation of Jazz effective May 24, 2007, Air Canada s consolidated results for the first quarter of 2008 are not directly comparable to

More information

LATAM AIRLINES GROUP REPORTS A 25.8% IMPROVEMENT IN OPERATING INCOME AND NET INCOME OF US$155.3 MILLION FOR FULL YEAR 2017

LATAM AIRLINES GROUP REPORTS A 25.8% IMPROVEMENT IN OPERATING INCOME AND NET INCOME OF US$155.3 MILLION FOR FULL YEAR 2017 LATAM AIRLINES GROUP REPORTS A 25.8% IMPROVEMENT IN OPERATING INCOME AND NET INCOME OF US$155.3 MILLION FOR FULL YEAR 2017 Santiago, Chile, March 14, 2017 LATAM Airlines Group S.A. (NYSE: LTM; IPSA: LTM),

More information

Analyst and Investor Conference Call Q Frankfurt, 25 October 2017

Analyst and Investor Conference Call Q Frankfurt, 25 October 2017 Analyst and Investor Conference Call Q3 2017 Frankfurt, 25 October 2017 Disclaimer The information herein is based on publicly available information. It has been prepared by the Company solely for use

More information

SAS Q3 2017/ August 2018

SAS Q3 2017/ August 2018 SAS Q3 2017/2018 31 August 2018 Strong earnings in peak season POSITIVES Record number of passengers Total revenue up MSEK 936 vs. LY Currency adjusted yield up 1.1% vs. LY EB point sale up 27% vs. LY

More information

Results 2Q17. August 9, 2017

Results 2Q17. August 9, 2017 Results 2Q17 August 9, 2017 2Q17 Highlights Indicators 2Q17 Var. x 2Q16 ASK (BN) 10.4-3.0% Traffic (000) 7,261-1.3% RPK (BN) 8.1 +0.5% Load Factor 77.9% +2.7 p.p. Yield (R$ cents) 23.2 +4.8% Pax Revenue

More information