Grupo Aeromexico, S.A.B. de C.V. Releases Results for the First Quarter 2013
MEXICO CITY, April 23, 2013 /PRNewswire/ -- Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX), the largest intercontinental airline in Mexico, today reported its unaudited consolidated results for the first quarter 2013.
- Grupo Aeromexico reported record revenues of $9.174 billion pesos in the first quarter 2013; a 0.4% year-on-year increase, despite the fact that the quarter was one day shorter than that of the previous year.
- The cost of available seat kilometers (CASK) excluding fuel decreased 3.0% year-on-year in the first quarter 2013 due to the Company's successful cost containment strategies. When expressed in U.S. dollars, CASK, excluding fuel, decreased 0.4% despite first quarter Mexican peso/ U.S. dollar depreciation.
- First quarter EBITDAR reached $1.259 billion pesos, with a 13.7% margin. Operating income was $189 million pesos, with a 2.1% margin.
- Grupo Aeromexico reported a net operating loss of $122 million pesos in the first quarter 2013. Market value adjustments for the Company's fuel hedging position resulted in a $59 million peso negative impact on net income.
- Grupo Aeromexico generated $215 million in operating cash before tax during the first quarter 2013. Capital expenditures reached $519 million pesos, including items such as advance payments for aircraft purchases, security deposits and repayment of debt not associated with aircraft purchases. Grupo Aeromexico's cash balance as at March 31, 2013 was $2.243 billion pesos.
- During the first quarter, Grupo Aeromexico retired two aircraft from its fleet: one Embraer ERJ-145 and one Boeing B737-700, both under lease agreements. The Company also added a Boeing B737-800 jet airliner to its fleet under an operating lease scheme.
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 2013 results conference call on Wednesday, April 24, 2013 at 11:00 am U.S. ET (10:00 am Mexico City Time). The conference call can be accessed by dialing USA/International +1 (719) 325-2465, Mexico: 001 800-514 5956 and entering passcode: 9105322.
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, Aerolineas 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.
 As of Q1 2013, Aeromexico's maintenance and loyalty program business units, previously reported on a consolidated basis, will be reported based on the equity method. In the interest of more accurate analysis, comparisons are based on 2012 pro forma financial statements unless otherwise indicated, which present the aforementioned business units under the equity method.
SOURCE Grupo Aeromexico, S.A.B. de C.V.