Avianca Group closes Q2, 2023 on a positive note

Avianca Group International Limited reported total operating revenue for the second quarter (Q2) of 2023 of $1,114.7 million, marking an 8.9% year-on-year increase. The Group closed Q2, 2023 with a cash of $84.8 million increasing its total liquidity to $1,013.2 million by June 30, 2023. The Group’s operating expenses decreased by 11.0% year-on-year resulting in EBITDAR of $271.3 million and a robust EBITDAR margin of 24.3%. Cargo and Loyalty revenues reached $251.9 million, with LifeMiles Cash EBITDA registering an 11.7% year-on-year increase. The Group’s recorded a passenger revenue of $862.8 million, reflecting a 19.5% year-on-year increase, driven by strong market