Aeromexico Reports 71.8% Increase In Operating Income
MEXICO CITY, Feb. 18, 2014 /PRNewswire/ -- Grupo Aeromexico, S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), the largest global airline in Mexico, today announced its unaudited results for the fourth quarter and full year 2013.
FOURTH QUARTER 2013 RESULTS
- The Group reported a 71.8% increase in operating profit, year-on-year, for a total of MXP $634 million. Aeromexico achieved an operating margin of 5.9%; 2.2 percentage points greater than the same period last year.
- Fourth quarter adjusted EBITDAR reached MXP $2.1 billion; a 26.4% increase compared to the prior year. The adjusted EBITDAR margin increased 2.8 percentage points to 19.6%.
- Net income in the fourth quarter reached MXP $385 million. Aeromexico reported a MXP $601 million in net benefit in the fourth quarter 2012 due to the sale of a 20 percent stake in PLM, the subsidiary which manages the Group's loyalty program. Eliminating this effect, fourth quarter of 2012 net income was MXP $10 million.
- Grupo Aeromexico's fourth quarter 2013 revenues reached MXP $10.7 billion; an 8.7% year-on-year increase.
- The cost per available seat kilometers (CASK) excluding fuel decreased 5% year-over-year in the fourth quarter, representing the fourth consecutive quarter with a year-on-year decrease in CASK excluding fuel.
- The Company added four new aircraft to its fleet: two Boeing 787-8, one Boeing 767 and one Embraer-190, while three Embraer-145 aircraft were retired. Grupo Aeromexico's operating fleet therefore consisted of 117 aircraft as at December 31, 2013.
- The Group's On-Time Departure Performance for 2013 reached 87.7%; a 7.7 percentage point improvement compared to 2012.
Andres Conesa, Grupo Aeromexico's CEO, commented: "2013 was known for its challenging economic environment, but we nevertheless succeeded in achieving very strong results during the fourth quarter. On the operational front, we again improved profitability for the fourth consecutive quarter by reducing the cost per ASK (CASK) to be increasingly competitive."
To access the full text of this earnings release, please visit our Investor Relations website at: http://www.aeromexico.com/investors
Grupo Aeromexico will hold its fourth quarter 2013 results conference call on Wednesday, February 19, 2014 at 11:00 am U.S. ET (10:00 am Mexico City Time). The conference call can be accessed by dialing US/International: +1 (719) 457-2696 or Mexico: 001 (800) 514-5956 and entering Call ID: 8076937.
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. Ltd., is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. It has a fleet of Boeing 777, 767, 737 and the latest models of Embraer 145, 170 and 190. As of 2011, an important expansion plan began that includes the incorporation of 20 new planes and properties over the next 24 months. In 2012, Aeromexico announced that it signed a letter of intent to purchase 100 Boeing aircraft, 90 Boeing 737 MAX and 10 Boeing 787-9 Dreamliner, making it the largest investment program in Mexican aviation history.
Grupo Aeromexico operates its main hub out of Terminal 2 in the Mexico City International Airport. The Group's airlines operate more than 600 daily flights to different cities in Mexico, the United States, Canada, Central and South America, as well as Europe and Asia.
Aeromexico is a founding member of SkyTeam, the global airline alliance comprised of the following 19 airlines: Aeroflot, Aerolíneas Argentinas, Air Europa, Air France, Alitalia, China Airlines, China Eastern, China Southern, CSA Czech Airlines, Delta Air Lines, Kenya Airways, KLM Royal Dutch Airlines, Korean Air, Middle East Airlines, Saudia, TAROM Romanian Air Transport, Vietnam Airlines and Xiamen Air. SkyTeam offers all partner airline passengers a large global network with more destinations and frequencies, and improved connectivity. Passengers can accrue and redeem miles with the different partners' loyalty programs and enjoy the convenience provided at 525 airport lounges worldwide. SkyTeam offers its 552 million annual passengers more than 15,000 daily flights to 1,000 destinations in 187 countries.
SOURCE Grupo Aeromexico S.A.B. de C.V.