Avianca has reported a record second-quarter EBITDAR of $355 million, up 60.6% from a year earlier, as cost control and network optimisation efforts offset a decline in load factor and passenger volumes.
The Colombian airline posted a 25.5% EBITDAR margin, its highest for a comparable quarter, as total operating revenue rose 18.7% on the year prior to $1.396bn. Operating costs climbed 14.3% to $1.263bn.
Passenger numbers dipped 4.3% to 8.8 million, although capacity measured in Available Seat Kilometers (ASKs) rose 13.6%, driven by longer average stage lengths and widebody cabin reconfigurations. Load factor fell to 78.4%, down 2.4 percentage points.
Frederico Pedreira, Aviana CEO, credited “continued cost discipline” and “positive revenue trends” for the strong results, adding that recent network expansions and a premium service rollout on 47 additional routes were enhancing customer offerings.
Passenger and ancillary revenues reached $997 million, up 7.9%, while cargo revenue rose 15.5% to $173 million, supported by trade flows and a seasonal surge in flower shipments for Mother’s Day.
LifeMiles, Avianca’s loyalty program, reported a 43.8% increase in third-party EBITDA to $56 million.
The company ended the quarter with $1.35bn in liquidity, including $1.15bn in cash and a $200 million undrawn credit facility. Net debt-to-EBITDAR improved to 2.8x.
Avianca also added six international routes in the quarter, began service to Córdoba, Argentina, and announced three new routes including Belém and Monterrey for later in 2025.
The airline’s fleet stood at 162 aircraft, including 134 A320-family jets and 15 787s. Cargo operations were increased by the post-quarter delivery of a second A330P2F freighter and a commercial agreement with Amazon Air Cargo.
Despite a net loss of $16 million, the result marked a 75% improvement from the second quarter of 2024.