President of Aerolíneas Argentinas stated that the company had a surplus of US $ 20.2 million by 2024
The Argentine state company will report its 1st operating profit since its restatization in 2008. According to the company’s president, Fabián Lombardo, the state -owned company closed 2024 with a surplus of $ 20.2 million. The company has not yet officially disclosed its results in the period.
Lombard’s declaration was made during an airline shareholder meeting. At the same meeting, shareholders approved the balance corresponding to the 2023 period, when Aerolíneas had a negative operating result of US $ 220 million. This is the company’s statement (PDF – 73 KB, in Spanish).
Over the past 16 years, the state -owned company has reported an average loss in its EBITDA –Lucros before interest, taxes, depreciation and amortization – US $ 400 million. The Company’s statement informs that it receives contributions from the Argentine government to continue its operations, but that by 2025 the state will be able to finish the year at its own costs.
“According to our projections, which we inform the Ministry of Economy, for 2025 we will not ask for money from the Treasury, as the entire operation will be supported by genuine revenues of the company itself. This will position Argentine aerolins as a valuable asset that will allow its shareholders to evaluate without limitations all future alternatives to the company ”, said Lombardo.
According to Aerolíneas statement, EBITDA’s positive result in 2024 was achieved from a cost cut strategy, which included the loss of more than 13% of its staff. The company said that More than 1,600 people left the company and a total of 85 hierarchical positions were eliminated, including 8 boards, 20 management positions and another 57 positions of various categories.
The result was celebrated by Lombardo, the executive stated that the surplus result will attract interested parties in the privatization process that President Javier Milei’s government wants to perform in the state -owned company.
“This year’s work focused on bringing the company closer to industry standards and improving its results to make it attractive to a market launch when conditions are adequate.”declared the executive.
