TAM's stock is the highlight after the release of its results.
Airline recovers losses from last year and pleases investors with prospects of good performance this semester.
247_The average price of airline tickets fell in the second quarter of this year, and fuel costs rose. Two factors that can harm an airline's performance. But TAM managed to stand out in this adverse scenario and recorded a net profit of R$ 60,3 million, reversing a loss of R$ 174,8 million from the second quarter of last year. Gross operating revenue grew 16,5% to R$ 3,2 billion, also in year-on-year comparison, with R$ 2,3 billion corresponding to passenger revenue, which increased by 8,2%.
It was precisely the increase in the number of passengers transported that helped TAM achieve a good result. Occupancy rates and the number of paying passengers compensated for the 7,8% reduction in the average price paid per passenger per kilometer flown. "This decrease reflects the success of the retail campaign, initiated by the company in August 2010, which encourages price-sensitive passengers to fly outside of peak hours," the company said in a statement. In international operations, this average price in reais decreased by 2,4% and in dollars increased by 9,6%. Domestic operations, however, saw a 21% decrease. There was an 18,2% increase in revenue from international passenger flights, reaching R$ 865,4 million. In international operations, the company saw a 5,1 percentage point increase in occupancy rates, reaching 81,4% in the quarter.
In the sum of these two markets, TAM's growth in the second quarter was 6,8 percentage points to a 73,9% seat occupancy rate. With 911 daily flights, the airline increased its number of landings and takeoffs by 13%. And the number of passengers grew 24,7% to 9,6 million.
According to its forecasts for 2011, the company maintains its expectation of growth in seat capacity between 10% and 13%, and an occupancy rate between 73% and 75%. The positive outlook for the second half of the year pleased investors and placed TAM's stock among the day's highlights on the stock exchange, with a rise of more than 4% on Wednesday the 10th. At the start of trading, TAMM4 shares even led the gains on the Ibovespa.