Avianca Holdings posts Q2 net loss of US$23m
Avianca Holdings, the parent of 7 Latin American passenger airlines including Avianca, posted a US$23.2m net loss for the 2016 Q2, deepened from the company’s $22.8m loss in Q2 2015. Excluding a one-time gain ($2m) and loss ($6.4m) related to the sale of a pair of aircraft during the quarter, plus a $7.7m accounting loss on adjustment of aircraft reasonable value, Avianca reported an adjusted net loss of $4m for Q2, lower than the company’s adjusted net loss of $24.8m in Q2 2015. Avianca’s total operating revenue for the quarter was $966.2m, down 9% YOY. Adjusted expenses fell 12.1% YOY to $928.6m. Avianca’s unadjusted operating income for the quarter was $25.5m, compared to $0.8m in Q2 2015. The company’s adjusted operating income for Q2 was $37.6m, a 7-fold YOY increase. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-23/star/avianca-holdings-posts-q2-net-loss-of-us-23m
https://portal.staralliance.com/cms/logo.png
Avianca Holdings posts Q2 net loss of US$23m
Avianca Holdings, the parent of 7 Latin American passenger airlines including Avianca, posted a US$23.2m net loss for the 2016 Q2, deepened from the company’s $22.8m loss in Q2 2015. Excluding a one-time gain ($2m) and loss ($6.4m) related to the sale of a pair of aircraft during the quarter, plus a $7.7m accounting loss on adjustment of aircraft reasonable value, Avianca reported an adjusted net loss of $4m for Q2, lower than the company’s adjusted net loss of $24.8m in Q2 2015. Avianca’s total operating revenue for the quarter was $966.2m, down 9% YOY. Adjusted expenses fell 12.1% YOY to $928.6m. Avianca’s unadjusted operating income for the quarter was $25.5m, compared to $0.8m in Q2 2015. The company’s adjusted operating income for Q2 was $37.6m, a 7-fold YOY increase. <br/>
