Avianca reports Q2 results

Avianca has reported an operating income (EBIT) of $37.6 million for the second quarter of 2016, and an operating margin of 3.9%, a 341 basis point increase over the same quarter of last year. Operating revenues rose to $966.2 million for the quarter. These results were mainly driven by a 12.1% reduction in total operating costs, driven by low fuel prices and benefitting from cost saving initiatives. The figures were partially offset by a 10.7% decrease in passenger revenues due to a yield dilution of 16.1%, partly compensated by growth in traffic numbers (RPKs). Cost per available seat kilometer (CASK)