Grupo Aeromexico (AM) has reported first-quarter consolidated net income of MXP $135 million ($10.4 million), down 49% on the year-ago period. Revenue increased 17% to a record MXP$9.2 billion ($701 million).
AM said the results were affected by a peso depreciation of 8%. Revenue increases were mainly due to a 16% improvement in passenger revenues and a 106% increase in cargo revenues.
First-quarter operating profit is MXP$452 million, down 29% from the prior-year quarter.
Passenger traffic rose 9% to 5.5 billion RPKs on a 7% increase in capacity to 7.2 billion ASKs, producing a load factor of 76.9%, up 1.4 point. CASKs increased 13%. Yield increased 0.5% to MXP$1.4.
According to the carrier, aircraft leasing costs increased 15% to MXP $906 million. AM—which leased three 787-8s from International Lease Finance Corp. (ILFC) and ordered two from Boeing— agreed in March to lease an additional two new 787-8s from ILFC as part of its previously announced international expansion plan to add 20 new aircraft. The two aircraft, to be equipped with GEnx engines, are scheduled for delivery in the first half of 2014.
The airline operated eight more aircraft in the period and took delivery of two Embraer E-190s as part of its fleet acquisition plan. AM has 106 aircraft in its fleet, comprising four Boeing 777s, seven 767s, 44 737s, 38 Embraer ERJ-145s and 13 E-190s.
Article Source : ATW Daily News
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