Avianca Holdings reports third quarter 2016 adjusted operating profit of US$83.4m

Avianca Holding reported that operating income (EBIT) increased in the third quarter 2016, reaching US$83.4m, with an improved operating margin of 7.9%. This represents a 36 bps quarter on quarter increase resulting from efficiencies derived through the Company’s expense reduction program and revised hedging policy. Operating revenues reached US$1.1bn for the quarter. EBITDAR for the 3Q 2016 was US$229.1m, while the EBITDAR margin reached 21.6%; a 118 bps increase when compared to 2015. Adjusted net income excluding special items totaled US$47.6m. Adjusted net income margin for 3Q 2016 therefore reached 4.5%.