Avianca Cargo revenue climbs 5% in Q1

Avianca Cargo today reported $161 million in revenue for the first quarter, an increase of 5.3% year over year. The growth indicates improved regional cargo import market trends, particularly in southbound markets taking cargo from Miami International Airport (MIA), the company said in the earnings report. [caption id="attachment_56725522" align="aligncenter" width="1984"] Avianca operates six A330-200Fs. (Photo/Avianca)[/caption] Capacity increased 4.1% YoY to 691 billion available cargo tonne kilometers (CTK). In Q1, 54% of that capacity was on freighters, compared with 60% in Q1 2024. Of the $8 million YoY increase in cargo revenue, $5 million came from cargo carried on freighters. “Our cargo team delivered a really good performance in the first quarter,” Chief Executive Frederico Pedreira said on Avianca’s earnings call. Q1 results Colombia-based Avianca reported a record Q1 EBITDAR of $330 million, up 21.7% YoY. The carrier also reported in Q1: Operating revenue of $1.4 billion, up 8.9% YoY; EBIT of $148 million, up 10.8% YoY; and Net income of $13 million, up from a net loss of $22 million in Q1 2024, which the company attributed mainly to $17 million spent on one-time costs related to refinancing transactions. Avianca ranked at No. 15 on the Freight 50 list of top cargo carriers, moving 5 billion CTKs of cargo in 2023, a 253.5% increase from 2022, according to IATA’s World Air Transport Statistics. The carrier was ranked No. 40 the year before. Elias appointed CEO of Avianca Cargo Diogo Elias was promoted to CEO of Avianca Cargo, effective May 1, from senior vice president, a role he had held since September 2023. [caption id="attachment_57146843" align="aligncenter" width="2020"] Diogo Elias speaks at Cargo Facts Symposium 2024. (Photo/Cargo Facts)[/caption] In this role, Elias leads fleet expansion plans, route network diversification and new market development, according to a May 5 release. He is responsible for connecting more than 350 destinations through freighter operations, interline agreements and the carrier’s passenger network. Before joining Avianca, Elias held cargo leadership roles at LATAM Airlines for eight years. Freighter strategy Avianca Cargo and Mexico-based AeroUnion will grow their combined Airbus medium-widebody fleet with the addition of two A330P2Fs in 2025 . Avianca will also take delivery in 2026 of another A330P2F, making it the fourth of the type for the carrier. The additions are part of an expansion and collaboration strategy with AeroUnion, Elias said during a fireside chat at Cargo Facts LATAM 2025 in February in Sao Paulo. Avianca expects one A330-200P2F to arrive around Q2 and one A330-300P2F around Q3, Elias previously told Cargo Facts . The aircraft joining in 2026 will also be an A330-300P2F. The carrier received its first A330-300P2F in April 2024 on lease from CDB Aviation and assigned that 2006-vintage freighter (791, ex-SmartLynx) to AeroUnion to operate. Avianca operates six 2012- to 2014-vintage, production A330-200Fs (1368, 1380, 1428, 1448, 1534 and 1506). Avianca’s fleet of A330s “helps not only improve the overall performance of [Avianca Cargo] but also to improve its reliability and lower the costs,” Pedreira said.

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