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Aeromexico posts US$13.6 million net loss while revenue rises 17.5pc
MEXICAN flag carrier Aeromexico reported a net loss of MXN258 million (US$13.6 million), drawn on revenues of MXN14.2 billion, up 17.5 per cent.
These financial results include a non-recurrent (net of deferred taxes) MXN561 million benefit derived from a non-monetary transaction associated with an agreement to develop Aeromexico's new Corporate headquarters in Mexico City.
The total cash balance at the end of the quarter reached MXN9.1 billion, equivalent to 16.2 per cent of annual revenues.
During the quarter, the company added three aircraft to its fleet: one Boeing 787-9 and two Embraer-190s. At the end of the quarter, Grupo Aeromexico's operating fleet comprised 133 aircraft.
Grupo Aeromexico reported an operating profit of MXN$533 million with operating margin reaching 3.8 per cent. This represents the 28th consecutive quarter of positive EBIT results.
During the quarter, revenue per ASK (RASK) increased by 8.9 per cent compared to the same period of 2016.
First quarter 2017 financial results reflect the negative impact of a 64.4 per cent increase in fuel prices and a 12.5 per cent depreciation of the Mexican peso against the US dollar.
These financial results include a non-recurrent (net of deferred taxes) MXN561 million benefit derived from a non-monetary transaction associated with an agreement to develop Aeromexico's new Corporate headquarters in Mexico City.
The total cash balance at the end of the quarter reached MXN9.1 billion, equivalent to 16.2 per cent of annual revenues.
During the quarter, the company added three aircraft to its fleet: one Boeing 787-9 and two Embraer-190s. At the end of the quarter, Grupo Aeromexico's operating fleet comprised 133 aircraft.
Grupo Aeromexico reported an operating profit of MXN$533 million with operating margin reaching 3.8 per cent. This represents the 28th consecutive quarter of positive EBIT results.
During the quarter, revenue per ASK (RASK) increased by 8.9 per cent compared to the same period of 2016.
First quarter 2017 financial results reflect the negative impact of a 64.4 per cent increase in fuel prices and a 12.5 per cent depreciation of the Mexican peso against the US dollar.
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