Avianca-Taca increases Q2 pre-tax earnings by 41%

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Latin American airline group Avianca-Taca has reported second quarter pre-tax earnings of $137 million, which includes restructuring and rent costs.

The company's pre-tax performance is an increase of 41% year-over-year as operating income grew 34% to $896 million.

Avianca-Taca also reversed a second quarter 2010 net loss by recording a profit of $1.1 million for the same time period this year.

Avianca and Taca merged in 2010 and their affiliate carriers include Aerogal of Ecuador, Avianca Brazil and Taca Peru.

The total number of passengers carried by the Avianca-Taca group carriers during the second quarter reached 4.9 million, a roughly 20% rise year-over-year. The company's capacity increased 19.2% while load factors grew 1.7 percentage points to 75.4%.