TAM load factor for the month of September

São Paulo, October 17, 2011 – (BM&FBOVESPA: TAMM4, NYSE: TAM). Brazilian National Civil Aviation Agency (ANAC) disclosed today the operational data for the month of September 2011.

Domestic market

In the domestic market in September, we had a slight reduction in demand (in RPK) of 0.7%, combined with an increase of 8.7% in the supply (in ASKs) compared with September 2010, which led to a decrease in the load factor of 6.1 p.p. to 64.4%. Our market share in the domestic market was 38.2% this month.

In line with the margins recovery movement, in the month of September, we observed an increase in yield (unit price) between 5% -10% compared to August, confirming our expectation of a domestic yield increase of at least 5% in third quarter versus the second quarter of 2011.

Remembering that the yield is the average unit price, it is important to mention that we continue applying our retail project strategy, which consists in offering more affordable tickets during off-peak hours, stimulating demand and promoting air transportation to emerging classes.

In the accumulated period from January to September of 2011 compared with 2010, our demand grew by 15.8%, while the supply growth was 12.5%, resulting in a 2.0 percentage point increase in the load factor, reaching 69.0%.

International market

In the international market, compared to the same month of 2010, we saw a rise of 8.2% in demand with a 6.9% increase in supply resulting in a load factor of 85.3%, the highest ever recorded in the month of September and the second highest in our entire history. Our market share among Brazilian carriers in September was 88.6%.

Even with the recent exchange rate volatility, we continued to observe high international demand. The international yield in dollar in September showed a reduction compared with the previous month, however we observed a strong increase in the quarter.

In the accumulated period from January to September of 2011, our demand grew by 15.2%, while the supply growth was 11.6%, resulting in a load factor of 81.9%, a 2.6 p.p. increase compared to the same period last year.