TAM Announces 3Q08 Results
November 10 2008 - 4:10AM
PR Newswire (US)
To see full report, access www.tam.com.br/ir SAO PAULO, Brazil,
Nov. 10 /PRNewswire-FirstCall/ -- TAM S.A. (BOVESPA: TAMM4, NYSE:
TAM), reports its third quarter results for 2008 (3Q08).
Operational and financial data, except where otherwise indicated,
are presented based on amounts consolidated in Reais (R$) and
prepared in accordance with accounting principles generally
accepted in Brazil (BR GAAP). (Logo:
http://www.newscom.com/cgi-bin/prnh/20080221/SPTH002LOGO )
Operational Performance Domestic Operations -- TAM reached 52.4%
average market share in 3Q08. -- ASKs (capacity) increased 16.7% in
3Q08 compared to 3Q07 as a result of the net increase in the
operating narrow body fleet of 11 aircraft, composed by the
increase of 2 A319, 15 A320 and 1 A321, compensated by the
elimination of the Fokker 100 (in 3Q07 we had 7 F-100 in our
operating fleet). Also block hours by aircraft maintained 12.6
hours/day (total operation). -- RPKs (demand) increased 17.2% in
3Q08 compared to 3Q07. -- TAM's domestic load factor increased to
67.6% in 3Q08, compared to 67.3% in 3Q07. International Operations
-- TAM reached 75.8% average market share in 3Q08. -- ASKs
(capacity) increased 23.1% in 3Q08, due to the increase of 1 B777,
2 A340, 3 A330 and 2 B767 into our international operating fleet
and by the first redelivery of MD11, allowing the beginning of long
haul daily flights to Frankfurt and Madrid. In South America we
started daily flights to Caracas and Montevideo and two frequencies
a week to Bariloche through the increase in the narrow body fleet
in the region. Also in South America, we increase our supply
operating the B777 to Santiago and substituting all TAM Mercosur's
F100 to A320 aircraft. -- RPKs (demand) increased 38.1% comparing
3Q08 with 3Q07. -- TAM's international load factor increased 8.6
p.p. to 79.6% in 3Q08 compared to 71% in 3Q07. Financial
Performance -- Total CASK increased by 14.3% in 3Q08 compared to
3Q07, and CASK excluding fuel increased 1.2%. -- EBIT and EBITDAR
margins of 5.8% and 14.6% respectively. -- Net loss of R$ 112.7
million, a negative margin of 3.9%. -- Our total cash and cash
equivalents equaled R$ 2,105 million. -- Return on Equity (ROE) of
(0.68) %. Conference calls Portuguese English November 10, 2008
November 10, 2008 04:00 pm (Brazil time) 04:00 pm (Brazil time)
01:00 pm (US EST) 01:00 pm (US EST) Phone: +55 (11) 4688-6301 US
participants: 1-800-860-2442 Password: TAM Other countries: +1
(412) 858-4600 Password: TAM Replay: +55 (11) 4688-6312 Replay: +1
(706) 645-9291 Available from 11/10/2008 Available from 11/10/2008
until 11/16/2008 until 11/16/2008 Code: 791 Code: 982 About TAM:
TAM (http://www.tam.com.br/) has been the domestic market leader
since July of 2003, and closed September 2008 with 52.8% of market
share. The company flies to 42 destinations in Brazil. Through
business agreements signed with regional companies, it reaches 79
different destinations in Brazil. TAM's market share among
Brazilian companies that operate international flights stood at
82.1% in June. Operations abroad include TAM flights to 17
destinations in the United States, Europe and South America: New
York and Miami (USA), Paris (France), London (England), Milan
(Italy), Frankfurt (Germany), Madrid (Spain), Buenos Aires and
Bariloche (Argentina), Cochabamba and Santa Cruz de la Sierra
(Bolivia), Santiago (Chile), Asuncion and Ciudad del Este
(Paraguay), Montevideo (Uruguay), Caracas (Venezuela) and Lima
(Peru). It has code-share agreements that make possible the sharing
of seats on flights with international airlines, enabling
passengers to travel to 64 other destinations in the U.S., Europe
and South America. Currently, the program has over 5.2 million
subscribers and has awarded more than 6.4 million tickets.
Forward-looking statement: This notice may contain estimates for
future events. These estimates merely reflect the expectations of
the company's management and involve risks and uncertainties. The
Company is not responsible for investment operations or decisions
taken based on information contained herein. These estimates are
subject to changes without prior notice.
http://www.newscom.com/cgi-bin/prnh/20080221/SPTH002LOGO
DATASOURCE: TAM S.A. CONTACT: Libano Miranda Barroso, TAM Investor
Relations, +011-55-11- 5582-9715, fax, +011-55-11-5582-8149, Web
site: http://www.tam.com.br/ http://www.tam.com.br/ir
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