TAG Airlines, Guatemala’s national carrier, unveiled its financial and operational results for the first quarter of 2023. Between January and March, the company carried a total of 89.487 passengers, 105% more than during the same period in 2022.
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TAG Airlines grows in the first quarter of 2023
“We have completed the first quarter with a strong start to the year”, noted Julio Gamero, CEO of the company. “The operational and commercial results are positive and solid, even exceeding what we had in our budget”, he added. In addition, he remarked that “triple-digit growth is not something that is commonly seen in this industry”.
“We are especially grateful to our customers who have steadfastly and patiently accompanied us in this process of modernisation and transformation over the past two years”, Gamero concluded.
TAG Airlines increased its revenues by 122.3% compared to the first quarter of 2022. The result is mainly explained by the inauguration of new air connections in Central America and Mexico.
Moreover, the company offered a total of 134.324 seats during the first quarter, a considerable increase compared to 63.411 in the previous year. Passenger revenues grew by 122.3% and operating margin was 6.3 times higher.
Fleet expansion and a new brand identity
The company has recently embarked on a process of transformation and growth, including the addition of new aircraft: it expects to take delivery of its third ATR 72 next June and its fourth aircraft in October. The current fleet also includes Saab 340A, Embraer ERJ 145LR, Embraer 110 and Cessna 208 aircraft, as well as some helicopters.
It also introduced a new corporate identity, sealed commercial partnerships with other operators and launched new products and services for its customers.
Currently, the airline offers flights to five destinations in Guatemala (Guatemala City, Flores, Puerto Barrios, Retalhuleu and Quetzaltenango), four in Mexico (Cancún, Merida, Oaxaca and Tuxtla), three in Honduras (Tegucigalpa, San Pedro Sula and Roatan), one in El Salvador (San Salvador) and another one in Belize (Belize City).
With its fleet of twelve active aircraft, it operates more than forty daily flights.
