AeroMexico reports a $102.8 million loss in the first quarter 2020

Grupo Aeromexico S.A.B. de C.V. (AeroMexico) has reported its unaudited consolidated results for the first quarter 2020.

KEY FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2020

  • 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.
  • Grupo Aeromexico’s first quarter 2020 revenue reached $14.1 billion pesos, a 14.0% year-on-year decrease. During the quarter, revenue per ASK (RASK) in pesos 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.
  • Year-on-year cost per ASK (CASK) in pesos increased by 2.7%. CASK in dollars decreased by 1.1% compared to the same period of 2019. CASK was affected by reduced operations derived from the impact of the COVID-19 pandemic.
  • First quarter EBITDAR reached $1.5 billion pesos. EBITDAR margin was 10.7%.
  • For the first quarter of 2020, Grupo Aeromexico reported an operating loss of $1.8 billion pesos, equating to a 12.7% negative operating margin
  • Aeromexico reported a net loss of $2.5 billion pesos ($102.8 million) for the first quarter 2020 for a negative net margin of 17.8%.
  • First quarter cash flow generation from operating activities reached $3.3 billion pesos. Aeromexico´s cash position as of March 31st, 2020 was $13.2 billion pesos, equivalent to $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 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.

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