From the Newsroom*
São Paulo – Brazilian airline TAM ended last year with a 10% increase in gross revenues, which totalled 8.5 billion reals (US$ 4.8 billion). In the year before last, the company posted revenues of 7.7 billion reals (US$ 4.4 billion). Performance last year was boosted by the expansion in international passenger and cargo. Revenues from foreign passengers increased 38.5% to stand at 2.1 billion reals (US$ 1.2 billion), and revenues from cargo rose 153%, totalling 417 million reals (US$ 238 million).
In the domestic market, revenues from passengers decreased 6.4%, to 4.8 billion reals (US$ 2.7 billion), and revenues from cargo grew 11.9%, to 360 million reals (US$ 136 million). Number of passengers in domestic flights rose 7.2%, totalling 24.1 million, and in international flights it grew 48.7%, to reach 3.7 million.
"It has been a very significant year for our international operations. We invested in new routes that are posting good results. Besides, we have signed strategic code-share agreements with leading companies in Europe, the United States and South America," says the president at TAM, commander David Barioni Neto.
The company posted a net profit of 128.8 million. The airline ended the year of 2007 with a fleet of 115 aircraft. TAM plans on closing 2008 with 123 aircraft in operation, including 4 Boeing B777-300ER and 119 Airbuses. The company also has a firm order backlog of 89 new aircraft, scheduled for delivery from 2008 to 2018.
*Translated by Gabriel Pomerancblum
