EconomyFinancialAeromexico reports profit for the first time since the...

Aeromexico reports profit for the first time since the pandemic began

During the third quarter of the year, Aeroméxico registered a net profit of 210.8 million pesos, which constitutes its first profit since the COVID-19 pandemic began and a positive differential of 2,455 million pesos compared to the same period in 2021. From the result achieved, the company recorded 210.2 million pesos in benefits from net exchange differences.

In the financial statements for the period sent to the Mexican Stock Exchange, the airline reported revenues of 21,401 million pesos, 61.7% more compared to the third quarter of 2021. In addition, it had an increase of 23.1% in revenue per seat -km available.

The airline achieved an operating result of 2,022 million pesos, which left a Profit Before Financing, Taxes, Depreciation, Amortization and Rents (EBITDAR) of 4,879 million pesos, 1,230 million pesos more compared to what was registered in the same period of 2021.

Domestic passenger revenues increased 34.9%, while international passenger revenues increased 69.2% compared to the third quarter of 2021.

In addition, sales of premium products, complementary products and other income associated with passengers increased 143.6% compared to the same period in 2021.

“The sequential recovery of the domestic and international markets was maintained during the third quarter of 2022. Additionally, the implementation of revenue generation initiatives had positive results that managed to mitigate the impact of high fuel prices,” said the airline in its third quarter report

The company had an operating expense of 19,378.5 million pesos, which represented 6,474 million pesos more than the same period in 2021. This was mainly due to the increase in its operations driven by the recovery in demand, as well as the increase in fuel prices, which was 76% higher than that registered in the same period of 2021.

Aeroméxico is currently carrying out a public offer for the acquisition of shares with the objective of delisting all its shares before the Mexican Stock Exchange in order, at the time, to cancel the registration of the shares representing its capital stock before the National Securities Registry.

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