Grupo Aeromexico S.A.B. de C.V. (“Aeromexico”) (BMV: AEROMEX), has reported its unaudited consolidated results for the second quarter 2017 (2Q17), the company said.
Grupo Aeromexico´s second quarter 2017 revenue reached USD 14.5 billion pesos, a 17.5% year on-year increase. During the quarter Revenue per ASK (RASK) increased by 4.5% compared to the same period of 2016.
CASK in pesos increased by 4.4%, year-on-year, while CASK in dollars increased 1.9%. CASK excluding fuel in pesos increased by 2.0%, year-on-year, while CASK excluding fuel in dollars decreased 0.3%, which is a reflection of Grupo AeromexicoÂ´s ongoing focus on optimizing unit costs.
Grupo Aeromexico reported an operating profit of USD 461 million pesos, a 19.6% year-on-year increase, with an operating margin of 3.2%, representing a margin improvement compared to last year despite the negative impact of an 18.0% increase in fuel prices and a 2.4% depreciation of the Mexican peso against the US dollar. This result represents the 29th consecutive quarter of positive EBIT results.
Second quarter EBITDAR reached USD 3.3 billion pesos, a 14.6% year-on-year increase. EBITDAR margin amounted to 23.0%.
Aeromexico reported a net loss of USD 528 million pesos for the second quarter 2017. During the quarter the company registered a negative foreign exchange impact of USD 954 million pesos as the Mexican peso appreciated against the US dollar.
Grupo AeromexicoÂ´s revenue reached USD 28.7 billion pesos for the first half of 2017, a 17.5% increase compared to the same period of 2016. EBITDAR reached USD 6.9 billion pesos, a 15.5% increase year-on-year.
During the first half of 2017, Grupo Aeromexico reported operating profit of USD 1.0 billion pesos with an operating margin of 3.5%.
Second quarter 2017 cash flow generation remained strong with USD 2.3 billion pesos in incremental net cash flow generated from operating activities. Aeromexico´s cash position as of June 30, 2017 was USD 8.7 billion pesos. This brings Grupo Aeromexico´s cash to last-twelve-month revenue ratio to 14.9%.
During the quarter, the company incorporated four aircraft into its fleet under operating lease agreements. As of June 30, 2017 Grupo Aeromexico´s operating fleet comprised 125 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).
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, MexicoÂ´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.