Company Watch - Aeromexico.
Grupo Aeromexico, S.A.B. de C.V. Releases Results for the First Quarter 2012. Grupo Aeromexico, S.A.B. de C.V. reported consolidated unaudited results for the first quarter 2012. Grupo Aeromexico reported its second best first quarter despite a 24% increase in fuel prices. Revenues reached a record high of MXP $9,228 million with 17% year over year growth, driven by strong passenger traffic and an increasing load factor.
EBITDAR reached MXP $1,484 million pesos with a margin of 16.1%, the second highest level in the Company's history despite a significant fuel price increase. Quarterly operating profit was MXP $452 million with an operating margin of 4.9%; the second best result for a March quarter in the Company's history. Net income for the first quarter was MXP $135 million, with a net margin of 1.5%. As part of its expansion plan, the Company increased its fleet by two Embraer 190 aircraft with benefit of its BNDES credit line and also returned one Embraer 145. Grupo Aeromexico's cash position was MXP $3,609 million at the end of March 2012; MXP $2,285 million greater than that of March 31, 2011. During the quarter, the Company made payments of approximately USD $50 million, related to its airplane acquisition program, the expansion of the overnight platform in Mexico City, and made payments in excess of USD $10 million for the amortization of financial debt not related to aircraft acquisition. Net financial debt, which deducts the unrestricted cash position from financial debt, ended in a negative balance of MXP $42 million. Stockholders' equity was MXP $5,412 million as of March 31, 2012. The Company adopted the International Financial Reporting Standards (IFRS) on January 1, 2012 and made accounting changes related to its cargo business unit. To access the full text of this earnings release, please visit our Investor Relations website at: http://www.aeromexico.com/us/Investor/ Grupo Aeromexico will hold its First Quarter Conference Call on Wednesday, April 25, 2012 at 11:00 am U.S. ET (10:30 am Mexico City Time). The conference call can be accessed by dialing USA/International +1 (719) 457 6782, Mexico: 001 800 514 5956, passcode: 3426466 Apr 24, 2012
Aeromexico Reports 17 Percent Rise in Quarterly Revenue. Aeromexico reported its first-quarter financial results, saying it was the companyOs second-best first quarter despite a 24 percent increase in fuel prices. The companyOs net income was 135 million Mexican pesos ($10.2 million). It reported a record MXP $9.23 billion in revenues for the first quarter of 2012, or 17 percent above the first quarter of 2011. Total passenger revenues for the quarter reached MXP $8,014 million, 54 percent of which were derived from domestic operations and 46 percent from international operations. This was the result of a 16 percent increase in the number of passengers who flew Aeromexico in the first quarter. Grupo Aeromexico transported 3,559,000 passengers in the first quarter 2012, 329,000 more than in the first quarter of 2011. Passenger numbers for international routes increased 16 percent while domestic passengers increased by 8 percent. Available Seat Kilometers (ASKs) for the quarter increased 7 percent compared to the first quarter of 2011. Apr 24, 2012
Aeromexico Launches Washington, D.C.-Mexico City Service. Aeromexico is beginning daily service between Washington, D.C. and Mexico City on May 21. This feeds into AeromexicoOs connections to more than 40 cities in Mexico and 11 countries in Latin America, including its new flight from Mexico City to San Salvador, El Salvador, which starts May 7. With these new direct flights to Mexico City, Aeromexico will have a total of 16 destinations in its North American network and 11 in Latin America. Apr 24, 2012
Aeromexico and TAM Airlines have reached a codeshare agreement to operate flights between Mexico City and Sao Paulo as well as connections to destinations inEBrazil and Mexico, which launched April 23. Apr 24, 2012
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