LIAT’s profits soar
In the past eight months, profits for LIAT have literally taken off.
In fact, in the last month alone, the regional airline recorded its best performance in recent years, declaring a net profit, with the route between Barbados and Guyana raking in nearly twice as much revenue as it did during the same period last year. The British Virgin Islands (BVI) to St Maarten route also performed strongly, generating an additional 57 per cent of revenue.
Compared to the corresponding period in 2014, 2015 had so far seen strong network performance figures in terms of passenger numbers, revenue and yield, the carrier stated in a press release issued earlier today.
It said revenue per available seat mile, a key aviation performance indicator, had shown growth of 16 per cent in the past year.
LIAT said that for the month of July average load factors were just under 76 per cent.
“The airline’s positive performance has resulted in the best month for LIAT in recent years with a net profit declared in July 2015,” the release stated.
While the Barbados to Guyana route was the best performer, arrivals out of Guyana increased by 62 per cent. The BVI also saw a growth of 32 per cent in passenger arrivals, Barbados recorded a 15 per cent rise, while St Maarten and Antigua had 15 per cent and nine per cent increases respectively.
“The new non-stop routes which were launched in mid-July are already developing well, with load factors on all routes averaging over 73 per cent, and showing positive trends. This steady performance is expected to continue over the rest of the summer,” the airline said in the release.
It said the highest load factors were on the new non-stop services between Barbados and Trinidad and between Barbados and Guyana, achieving well
over 80 per cent. The highest yielding route was Tortola to San Juan,
“This strong performance has been coupled with a growth of eight per cent in daily aircraft utilization, which is the measure of hours flown daily by LIAT’s ATR fleet,” it declared.
LIAT operates a modern fleet of ATR 42 and ATR 72 aircraft across a regional network of 17 destinations. The majority shareholders are the Governments of Antigua & Barbuda, Barbados, Dominica and St Vincent & the Grenadines.