Grupo Aeromexico S.A.B. de C.V. (BMV: AEROMEX) has announced first quarter 2020 revenue reached MXN 14.1 billion, a 14.0% year-on-year decrease, the company said.
During the quarter, revenue per ASK (RASK) in MXN decreased by 5.3% while yield increased by 0.9%. International yield increased by 2.8%, partially offset by domestic yield which reduced by 3.5% compared to the same period of 2019.
Grupo Aeromexico´s first quarter capacity, measured in available seat kilometers (ASKs) decreased by 9.1% year-on-year, resulting primarily from the impact of the COVID-19 pandemic. Additionally, year-on-year capacity was negatively impacted by the grounding of the Boeing 737 MAX aircraft since March 2019.
For the first quarter of 2020, Grupo Aeromexico reported an operating loss of MXN 1.8 billion, equating to a 12.7% negative operating margin
Aeromexico reported a net loss of MXN 2.5 billion for the first quarter 2020 for a negative net margin of 17.8%.
First quarter cash flow generation from operating activities reached MXN 3.3 billion. Aeromexico´s cash position as of March 31st, 2020 was MXN 13.2 billion, equivalent to USD 563 million dollars. This brings Aeromexico´s cash to last-twelve-month revenue ratio to 19.9%.
As of March 31st, 2020, Grupo Aeromexico´s operating fleet comprised 119 aircraft, excluding the six Boeing 737 MAX aircraft temporarily grounded.
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 42 destinations in Mexico, 17 in the United States, 15 in Latin America, 4 in Canada, 5 in Europe and 2 in Asia.