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Q3 net income up for Aeromexico.


Mexican airline operator Grupo Aeromexico SAB de CV (BMV: AEROMEX) said that its 3Q13 net income reached USD 495m pesos for a 17% increase year-on-year. Net margin for the quarter was 4.7%.

The carrier said that its 3Q13 adjusted EBITDAR reached USD 2.17bn pesos, with a 20.8% margin. The company reported operating income of USD 834m pesos with an 8.0% margin.

Grupo Aeromexico's revenues reached USD 10.4bn pesos in 3Q13; a 0.4% increase, year-on-year.

Load factor was 80.3%, an increase from the 77.1% load factor reported in 2012. 3Q13 cost of available seat kilometers excluding fuel decreased one percent year-over-year, representing the third consecutive quarter that CASK has decreased compared to the year prior.

The firm's 3Q13 net cash resources derived from operating activities totaled USD 735m pesos. During 3Q13, resources for USD 598m pesos were spent related to investments in fixed assets. The group's cash balance as at September 30, 2013 was USD 2.9bn pesos.

Grupo Aeromexico added five new aircraft to its fleet in 3Q13 (one Boeing 787-8, two Boeing (NYSE: BA) 737-800, one Embraer 170 and one Embraer E175) and retired one Boeing 767-200. Grupo Aeromexico therefore maintains an operating fleet of 116 airplanes as at September 30, 2013.

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Publication:Airline Industry Information
Date:Oct 28, 2013
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