Last year it reached the highest number of passengers transported in its entire history.

Colombia-based Avianca airline closed fiscal year 2023 with net profit of US$ 131 million compared to the 'red numbers' of US$ 301 million registered in 2022.

As reported today by the company, sales increased 15.3% from the previous year, reaching US$ 4.77 billion. Meanwhile, costs were 2.8% higher than in 2022, reaching US$ 4.15 billion.

Revenue from passenger transportation, which represents 84% of Avianca's total, increased by 27.9% year-on-year. Meanwhile, income from the transfer of merchandise (the remaining 16% of total revenue) fell by 16.6%.

In the meantime, operating profit went to US$618.5 million, more than seven times the previous year's figure (an increase of 673%).

During the fourth quarter of 2023, Avianca's net profit grew by 30.3%, to US$ 46 million, while revenue was 11.4% more than in the same period the previous year.

The CEO of Avianca, Frederico Pedreira, valued 2023 as a "historic" year for the company, when they reached the highest number of passengers transported in their entire history.

"Flying with Avianca is more accessible today due to the competitive prices we manage, which have remained stable compared to pre-pandemic levels, despite the challenging macroeconomic environment," he stated.