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TAM Posts 1Q Profit Of US$ 25 Mm (R$ 57 Mm)  
User currently offlineLipeGIG From Brazil, joined May 2005, 11419 posts, RR: 59
Posted (5 years 2 months 3 weeks 3 days 20 hours ago) and read 3388 times:
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After some quarters posting huge loss due mainly to hedge issues, TAM finally posted a profit !
With some help from a stronger Brazilian Real against US$ (reducing their liabilities), as well as the fact that they renegotiate and extend some hedge contracts (now they have some due on 2010 and 2011), and they got both operational and net profit.

Its operations got a result closer to US$ 90 million even with lower activity in Brazil during 1Q (specially March on Domestic and January, a little under their expectation on international).

Tam confirmed the plans to fly to JNB by Sep/09 as well as to get 2 more 77W by 2013.

Key info:

Domestic ASK increased by 15.5%
Domestic RPK increased by 4.5%
International ASK + 18.5%
International RPK + 10.5%
Domestic Load Factor = 64.2% (2008 = 70.9%)
International Load Factor = 71.6% (2008 = 76.8%)
Cash: R$ 2.1 billion (+/- US$ 900 million)


New York + Rio de Janeiro = One of the best combinations !
14 replies: All unread, jump to last
 
User currently offlineAlianza From United States of America, joined Apr 2008, 230 posts, RR: 0
Reply 1, posted (5 years 2 months 3 weeks 3 days 20 hours ago) and read 3372 times:

Thanks for those figures. Congratulations to TAM !! to the envy of many airlines during these times.

User currently offlineVC10er From United States of America, joined Feb 2007, 2866 posts, RR: 10
Reply 2, posted (5 years 2 months 3 weeks 3 days 18 hours ago) and read 3330 times:
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Great news for TAM. Parabens!
by the way, how long does TAM plan to keep the 767's? Do they plan to replace or keep them on the GIG/JFK run?



The world is missing love, let's use our flights to spread it!
User currently offlineLipeGIG From Brazil, joined May 2005, 11419 posts, RR: 59
Reply 3, posted (5 years 2 months 3 weeks 3 days 14 hours ago) and read 3277 times:
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Quoting VC10er (Reply 2):
Great news for TAM. Parabens!
by the way, how long does TAM plan to keep the 767's? Do they plan to replace or keep them on the GIG/JFK run?

Up to now, i expect them to keep the flight, but there are rumors about even ground the 763's and replace some or all with A332. Not decided yet.
But i believe GIG-JFK will continue because it got good numbers and very nice fares.



New York + Rio de Janeiro = One of the best combinations !
User currently offlineBurkhard From Germany, joined Nov 2006, 4387 posts, RR: 2
Reply 4, posted (5 years 2 months 3 weeks 3 days 8 hours ago) and read 3223 times:

Congratulations for getting profitable in these hard times!

User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 5, posted (5 years 2 months 3 weeks 2 days 18 hours ago) and read 3114 times:

Thanks for the numbers, Lipe. Excellent corporate results by TAM especially taking into account the current scenario.

TAM is also embarking in major internal restructuring, and some 2,000 staff will be cut in the months ahead to make the airline more efficient and in line with market dynamics.

There is no doubt TAM is the top airline in Latin America and the above results consolidate TAM management as a premier international airline.

Rgs,


User currently offlineSeemyseems From United Kingdom, joined Jan 2009, 967 posts, RR: 7
Reply 6, posted (5 years 2 months 3 weeks 2 days 18 hours ago) and read 3099 times:

Thats great new for JJ!

At least some airlines are doing well!



seemyseems
User currently offlineMAH4546 From Sweden, joined Jan 2001, 32620 posts, RR: 72
Reply 7, posted (5 years 2 months 3 weeks 2 days 18 hours ago) and read 3099 times:



Quoting LipeGIG (Reply 3):
Up to now, i expect them to keep the flight, but there are rumors about even ground the 763's and replace some or all with A332. Not decided yet.
But i believe GIG-JFK will continue because it got good numbers and very nice fares.

Any update on MIA-BSB plans?



a.
User currently offlineLipeGIG From Brazil, joined May 2005, 11419 posts, RR: 59
Reply 8, posted (5 years 2 months 3 weeks 2 days 2 hours ago) and read 2987 times:
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Quoting MAH4546 (Reply 7):
Any update on MIA-BSB plans?

We shall see some news on the international network during the next 30 days, Mark. MAO-MIA could be again A320 allowing TAM to offer a daylight thru BSB.



New York + Rio de Janeiro = One of the best combinations !
User currently offlineMAH4546 From Sweden, joined Jan 2001, 32620 posts, RR: 72
Reply 9, posted (5 years 2 months 3 weeks 2 days ago) and read 2954 times:



Quoting LipeGIG (Reply 8):
MAO-MIA could be again A320 allowing TAM to offer a daylight thru BSB.

Sounds like a good move. The old MIA-MAO-BEL-FOR was always a great performer and the A320 is the perfect size.



a.
User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 10, posted (5 years 2 months 3 weeks 1 day 22 hours ago) and read 2920 times:



Quoting MAH4546 (Reply 9):
Sounds like a good move. The old MIA-MAO-BEL-FOR was always a great performer and the A320 is the perfect size.



Quoting LipeGIG (Reply 8):
We shall see some news on the international network during the next 30 days, Mark. MAO-MIA could be again A320 allowing TAM to offer a daylight thru BSB.

I think TAM downgrading MIA-MAO to A320 would be a smart move, but the cargo space of the B767 is also useful. In addition, TAM needs to excert market pressure againts DL and AA and a downgrade of equipment would sound as TAM was the weakest link.

As for BSB-MIA this is certainly a market under TAM radar and it does have great potential. I personally think BSB-MIA B767 would make more sense reverting MAO-MIA to A320. The issue with BSB-MIA is that it will certainly reduce connections in MAO-MIA which always gets a good share of pax from BSB.

Rgs,


User currently offlineLipeGIG From Brazil, joined May 2005, 11419 posts, RR: 59
Reply 11, posted (5 years 2 months 3 weeks 22 hours ago) and read 2818 times:
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Quoting MAH4546 (Reply 9):
Sounds like a good move. The old MIA-MAO-BEL-FOR was always a great performer and the A320 is the perfect size

Yes, and the difference in seats between A32A and B763 is just 49. In Y (the focus of MAO market) is even less, just 31.

Quoting Hardiwv (Reply 10):
I think TAM downgrading MIA-MAO to A320 would be a smart move, but the cargo space of the B767 is also useful. In addition, TAM needs to excert market pressure againts DL and AA and a downgrade of equipment would sound as TAM was the weakest link

Hardi, be in mind that cargo is strong MAO-MIA but the opposite isn't so good. TAM need to think about having some A320 with PTVs, this would be very good for international flights.



New York + Rio de Janeiro = One of the best combinations !
User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 12, posted (5 years 2 months 3 weeks 18 hours ago) and read 2781 times:



Quoting LipeGIG (Reply 11):
Hardi, be in mind that cargo is strong MAO-MIA but the opposite isn't so good. TAM need to think about having some A320 with PTVs, this would be very good for international flights.

I agree that TAM A320 need to be upgraded to include PTV for regional/medium-haul flights, this would certainly improve service level.

I am aware demand for cargo is strong MAO-MIA but still there is money to be made here even with the belly flying MIA-MAO almost empty.

Quoting LipeGIG (Reply 11):
Yes, and the difference in seats between A32A and B763 is just 49. In Y (the focus of MAO market) is even less, just 31.

This is interesting but for such "small" market less 31 seats could make the difference for breaking even. As you said, we could expect TAM to make some fleet/route adjustment in the next few months. BSB-MIA should be under TAM radar sice BSB is TAM's 4th most important distribution hub.

Rgs,


User currently offlineLipeGIG From Brazil, joined May 2005, 11419 posts, RR: 59
Reply 13, posted (5 years 2 months 2 weeks 6 days 16 hours ago) and read 2657 times:
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Quoting Hardiwv (Reply 12):
This is interesting but for such "small" market less 31 seats could make the difference for breaking even. As you said, we could expect TAM to make some fleet/route adjustment in the next few months. BSB-MIA should be under TAM radar sice BSB is TAM's 4th most important distribution hub

Yes, but be in mind, the A320 probably have a better break even for passenger than the 763. No doubt JJ should focus more on BSB where a strong hub operation can give a very strong advantage. Lets see what happen to GIG-MIA service which depends on 52% of connections. As we know, GIG would lose some of the connections.

Quoting Hardiwv (Reply 12):
I agree that TAM A320 need to be upgraded to include PTV for regional/medium-haul flights, this would certainly improve service level.

If they do that on, lets say, 10 frames, it would be very good for flights to EZE, SCL, CCS, LIM, ASU and MVD !



New York + Rio de Janeiro = One of the best combinations !
User currently offlineHardiwv From Brazil, joined Oct 2004, 8780 posts, RR: 50
Reply 14, posted (5 years 2 months 2 weeks 5 days 23 hours ago) and read 2560 times:

To complement Lipe's post, this is TAM"s release of the 1Q results:

(from the result one may note that TAM currently has in cash more than USD 1 billion).

---------------------------

Operational Performance

Domestic Operations

We reached 49.5% average market share in 1Q09.

Our capacity (ASK) increased 15.5% in 1Q09 compared to 1Q08 as a result of the net increase in our operating fleet of 2 A321, 11 A320 and 5 A319, compensated by the phase-out of the Fokker 100s (in 1Q09 we had 3 F-100 in our operating fleet) thereduction in the block hours by aircraft from 12.6 hours/day in 1Q08 to 12.0 flown hours per day in 1Q09 (total operation).

Demand (RPK) increased 4.5% in 1Q09 compared to 1Q08.

Our domestic load factor decreased to 64.2% in 1Q09, compared to 70.9% in 1Q08.

International Operations

We had 85.5% average market share in 1Q09.

Capacity increased 18.5% in 1Q09,due to the increase of 4 B777, 4 A330 and 3 B767 into our international operating fleet partially compensated by the phase-out of the MD11s from our fleet, making possible the beginning of long haul flights from Rio de Janeiro to Miami (daily) and New York (4 times per week) and from Sao Paulo to Orlando (daily). In South America we started daily flights between São Paulo and Lima (Peru) through the increase in the narrow body fleet in the region.

Our demand increased 10.5% comparing 1Q09 with 1Q08.

The international load factor decreased 5.2 p.p. to 71.6% in 1Q09 compared to 76.8% in 1Q08.

Financial Performance

Total CASK decreased by 3.1% in 1Q09 compared to 1Q08, and CASK excluding fuel increased 13.9%.

EBIT and EBITDAR margins of 7.1% and 18.0% respectively.

Net income of R$ 56.9 million, a positive margin of 2.2%.

Our total cash and cash equivalents equaled R$ 1,085 million.

Return on Equity (ROE) of (103.8)%.

Return on Assets (ROA) of (11.4)%.


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