Avianca Group International (AVIANCA) Q4 2024 earnings summary

Executive summary

• Achieved record network expansion with 165 routes and 81 destinations, carrying 38 million passengers in 2024, the highest in company history.

• Successfully redeployed capacity from domestic Colombia to international markets, launching up to 26 new routes and 8 new destinations in 2024.

• Closed a strategic investment in Wamos Air, adding 13 A330 aircraft and expanding connectivity between Latin America and Europe.

• Introduced enhanced business class service, including the Insignia brand for Europe and expanded business class on 34 routes.

• Advanced sustainability initiatives, reducing CO2 emissions per RPK by 23% since 2019 and achieving a B rating from the Carbon Disclosure Project.

Financial highlights

• Q4 2024 EBITDAR/EBITDA reached $420 million (28.7% margin), net income $109 million; full-year EBITDAR/EBITDA $1,272 million (24.1% margin), net income $117 million.

• Q4 EBIT was $242 million (16.5% margin); full-year EBIT $645 million, up 5.5% year-over-year.

• Total operating revenues for Q4 2024 were $1,467 million (+13.9% YoY); FY 2024 revenues were $5,275 million (+10.6% YoY).

• Ended 2024 with $1,087 million in cash and $1,287 million in liquidity, representing 24% of total revenue.

• Net leverage at year-end was 3.3x EBITDA/EBITDAR, slightly higher due to Wamos consolidation.

Outlook and guidance

• Expect continued ASK growth in the low teens for Q1 2025, with flat departure growth as longer flights and reconfigured aircraft drive capacity.

• Focus remains on international expansion, premium service rollout, and disciplined cost management.

• Continued investment in network, fleet, and loyalty program to support growth and connectivity.