MEXICO CITY, April 25, 2017 /PRNewswire/ — Grupo Aeromexico S.A.B. de C.V. (“Aeromexico”) (BMV: AEROMEX), today reported its unaudited consolidated results for the first quarter 2017.

KEY FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2017

• Grupo Aeromexico’s first quarter 2017 revenues reached $14.2 billion pesos, a 17.5% year on-year increase. During the quarter, Revenue per ASK (RASK) increased by 8.9% compared to the same period of 2016.

• First quarter 2017 financial results reflect the negative impact of a 64.4% increase in fuel prices and a 12.5% depreciation of the Mexican peso against the US dollar. CASK in pesos increased by 18.0%, year-on-year, while CASK in dollars increased 4.9%. CASK excluding fuel in pesos increased by 8.5%, year-on-year, while CASK excluding fuel in dollars decreased 3.6%, highlighting Grupo Aeromexico´s ongoing focus on optimizing unit costs.

• Grupo Aeromexico reported an operating profit of $533 million pesos with operating margin reaching 3.8%. This represents the 28^th consecutive quarter of positive EBIT results.

• During the quarter, EBITDAR reached $3.6 billion pesos a 16.4% increase compared to the prior year. EBITDAR margin amounted to 25.3%, a 0.2 percentage point decrease compared to the same period of 2016.

• Aeromexico reported a net loss of $258 million pesos with a negative margin of 1.8% margin for the first quarter of 2017.

• These financial results include a non-recurrent (net of deferred taxes) $561 million peso 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 $9.1 billion pesos, equivalent to 16.2% 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.

MANAGEMENT DISCUSSION AND ANALYSIS

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).

The International Accounting Standard 1 (IAS 1) “Presentation of Financial Statements” establishes that in the Consolidated Statement of Comprehensive Income additional items, headings and subtotals can be presented when they are relevant to understanding the financial performance of the entity.

The following information provides an overview of selected consolidated financial and operating results, comparing the Company’s unaudited consolidated financial statements for the first quarter 2017 with those of the first quarter 2016.

 

SOURCE Grupo Aeromexico S.A.B. de C.V.