Grupo Aeroméxico had a second quarter of revenue growth, mainly derived from the rebound in the international market coupled with a sustained recovery in the domestic segment. However, sales were not enough for the company to break even.
According to the financial statements for the second quarter of the year, Aeroméxico recorded revenues of 19,175 million pesos, 91.5% more than the same period in 2021, with a 22.2% increase in revenue per available seat-kilometer. The segment that grew the most in terms of sales was the international one –which rose 131.6% by number of passengers–, while the domestic market had an increase of 54.3%.
The company highlighted the income generated by sales of premium products, complementary products and other income associated with passengers, which increased 264.4% compared to the same period in 2021.
“Aeroméxico will continue to implement strategic initiatives that allow greater personalization of services and products,” said the company in its quarterly report sent to the Mexican Stock Exchange.
Earnings before interest, taxes, depreciation and amortization (EBITDAR) stood at 2,913 million pesos, with an increase of 1,840 million pesos compared to the same period in 2021.
Although the airline recorded an operating profit of 626.3 million pesos, it was not enough to record profits, as the company had a net loss of 947.9 million pesos. However, this represents a positive differential of 1,851.7 million pesos compared to the same period in 2021.
The airline closed the second quarter with a fleet of 140 aircraft, which translates into 22 more teams compared to last year.
The company comes from a series of important changes. The airline concluded its financial reorganization this year after a year and nine months of negotiations, which led to a new structure where the main shareholder of the company, the American Delta Air Lines -with around 49% of the airline’s share capital- passed to have a 20% stake, surpassed by the Apollo Global Management fund, which has 22.38% of the shares.
As part of the commitments assumed in its restructuring plan, the shareholders of Aeroméxico recently approved its delisting from the Mexican Stock Exchange (BMV), with the objective that the company submit an application to list on the New York Stock Exchange. or on the Nasdaq.
However, the airline could return to one of the Mexican stock exchanges if the shareholders approve it.
According to its restructuring plan, Aeroméxico expects to close the year with revenues of 3,329 million dollars, equivalent to 71,340 million pesos for this year with an exchange rate estimated by the airline of 21.43 pesos per dollar for this year.
