Grupo Aeromexico reports a $9.9 million net operating loss in the first quarter

Grupo Aeromexico, S.A.B. de C.V. (AeroMexico) (Mexico City) 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.[1]
• 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 ($9.9 million US) 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 737-700, both under lease agreements. The Company also added a Boeing 737-800 jet airliner to its fleet under an operating lease scheme.

Copyright Photo: Gilbert Hechema/AirlinersGallery.com. Boeing 737-752 WL EI-DRE (msn 35787) in the now gone Captain America special livery departs from Montreal (Trudeau).

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