Aeromexico Reports 3Q17 Results

MEXICO CITY, Oct. 24, 2017 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), today reported its unaudited consolidated results for the third quarter 2017 (3Q17).

KEY FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER 2017

• Grupo Aeromexico's third quarter 2017 revenue reached $15.9 billion pesos, a 10.1% year on-year increase.

• CASK in pesos decreased by 2.3%, year-on-year, while CASK excluding fuel in pesos decreased by 4.1%, year-on-year, highlighting Grupo Aeromexico´s ongoing focus on optimizing unit costs.

• Grupo Aeromexico reported an operating profit of $1.3 billion pesos, with an operating margin of 8.2%. This result represents the 30^th consecutive quarter of positive EBIT results.

• Third quarter EBITDAR reached $4.1 billion pesos with a margin of 26.0%.

• Aeromexico reported a net profit of $339 million pesos for the third quarter 2017. During the quarter the company registered a negative foreign exchange impact of $54 million pesos.

• These financial results include the negative impact of several natural disasters that affected operations, including the September 7 and 19 earthquakes. These natural disasters adversely impacted operating profit by approximately $250 million pesos.

• Grupo Aeromexico´s revenue reached $44.6 billion pesos for the first nine months of 2017, a 14.8% increase compared to the same period of 2016. EBITDAR reached $11.1 billion pesos, a 10.0% year-on-year increase, equating to 24.8% EBITDAR margin

• During the first nine months of 2017, Grupo Aeromexico reported operating profit of $2.3 billion pesos with an operating margin of 5.2%.

• Third quarter 2017 cash flow generation remained strong with $1.0 billion pesos in incremental net cash flow generated from operating activities. Aeromexico's cash position as of September 30, 2017 was $10.0 billion pesos. This brings Grupo Aeromexico's cash to last-twelve-month revenue ratio to 16.7%.

• During the quarter, the Company incorporated net three aircraft into its fleet under operating lease agreements. As of September 30, 2017 Grupo Aeromexico's operating fleet comprised 126 aircraft.

All figures are expressed in millions of pesos unless otherwise indicated. Grupo Aeromexico's financial statements are prepared in accordance with International Financial Reporting Standards (IFRS).

The International Accounting Standard 1 (IAS 1) "Presentation of Financial Statements" establishes that in the Consolidated Statement of Comprehensive Income additional items, headings and subtotals can be presented when they are relevant to understanding the financial performance of the entity.

To access the full text of this earnings release, please visit Aeromexico's Investor Relations website at:   https://aeromexico.com/en-us/investors.

Safe Harbor Statement

This release contains forward-looking statements regarding the Company's results and business prospects. The readers should know that the results obtained may differ from that stated on this release. Past performances do not guarantee the behavior of future performances. The Company undertakes no obligation to update any of these statements, either as a result of new information, future actions or other related events. 

About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico´s global airline, operates more than 600 daily flights and its main hub is in Terminal 2 at the Mexico City International Airport. Its destinations network features more than 80 cities on three continents, including 45 destinations in Mexico, 18 in the United States, 15 in Latin America, 4 in Canada, 4 in Europe, and 3 in Asia.
The Group's operating fleet of more than 120 aircraft is comprised of Boeing 787, 777 and 737 jet airliners and next generation Embraer 170 and 190 models. In 2012, the airline announced the most significant investment strategy in aviation history in Mexico, to purchase 100 Boeing aircraft including 90 MAX B737 jet airliners and 10 B787-9 Dreamliners.

As a founding member of the SkyTeam airline alliance, Aeromexico offers customers more than 1,000 destinations in 177 countries served by the 20 SkyTeam airline partners rewarding passengers with benefits including access to 636 premium airport lounges around the world. Aeromexico also offers travel on its codeshare partner flights with Delta Air Lines, Alaska Airlines, Avianca, Copa Airlines and WestJet, with extensive connectivity in countries like the United States, Brazil, Canada, Colombia and Peru.

https://aeromexico.com/en-us 
https://www.skyteam.com/en
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SOURCE Grupo Aeromexico S.A.B. de C.V.

Related Links

http://www.aeromexico.com