Aerolíneas Argentinas reported the lowest level of losses since its nationalization

Aerolíneas Argentinas announced that the National General Audit approved yesterday its financial statements for the year 2022, in which it recorded losses of 246 million dollars, a reduction of 43.7% compared to 2021 and 64% compared to 2019. Total revenues reached 1.864 billion dollars.

The company emphasized that, despite the negative figures, this is the best financial result since the Argentine government took control of Aerolíneas Argentinas again in 2008.

The company also stressed that during 2022, they only used 67% of the assigned budget, totaling 47 billion Argentine pesos, a figure 50% lower than that of 2021 (USD 1 = ARS 227 at official rate or ARS 474 free rate) . Meanwhile, in 2023, they only received 6 billion pesos corresponding to the 2022 period that had been accrued but not transferred, which they clarified means they have not yet used the allocation assigned for this year, in which a reduction of 102 million dollars in the budget is expected.

Regarding this, Pablo Ceriani, president of the company, said they have “improved results year after year, even amidst the greatest global crisis in the history of aviation“.

“We have a more efficient company, generating direct and indirect revenues that benefit everyone. And we achieved this by opening new routes, flying more, and incorporating new business units,” he concluded.

According to the National Civil Aviation Administration (ANAC), during 2022 Aerolíneas Argentinas transported 9.36 million passengers in the domestic market, a figure 116% higher than that of 2021, and representing a 93% recovery compared to 2019 levels.

In the international segment, Aerolíneas Argentinas transported 2.12 million passengers during 2022, a growth of 335% compared to 2021 and a recovery of 65% in comparison with the figures recorded in 2019, prior to the outbreak of the pandemic.

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