TAME improves results with 2% increase in sales

Octavio Pérez, General Manager, said the airline has repaid debts of about $5 million. The Ecuadorian state airline TAME has improved its results in January 2018, compared to the same period last year, with a 2% increase in sales, the company said in a statement.

"In January 2018, sales increased by 2% compared to January 2017 when the company had 11 operational aircraft, which was 5 more than it currently has," said the press release. In a restructuring process underway since the last quarter of 2017 as a result of large debts in previous years, TAME says it has stabilized its operations in terms of "punctuality and flight compliance", by 90% and 99% respectively.

Octavio Pérez, its General Manager, explains in the note that, since the beginning of the business restructuring process, the debt owed by the airline to some private companies and public institutions has been significantly reduced. "We have repaid about 5 million Dollars corresponding to the overdue debts portfolio," the executive said without specifying the current volume of debt.