Aeromexico boosts Q4 profit

Washington DC
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Grupo Aeromexico boosted fourth-quarter net income in 2012 to Mexican pesos (Ps) 612 ($48 million), an increase from the Ps294 million recorded during the same period of 2011.

Operating profits in the fourth quarter totalled Ps356 million before non-operating revenues and expenses, with a 3.6% margin.

Revenues for the fourth quarter totalled Ps9.9 million, or a 1.7% increase from the same three-month period in 2011.

Net income for the full 2012 fiscal year totalled Ps1.32 billion, with record revenues of Ps39.6 billion. Revenue grew 10.5% year-over-year compared to 2011, which the carrier attributes to an increase in yields, cargo revenues and passenger flow.

Cargo revenues in the fourth quarter were Ps528 million, which decreased 2.9% year-on-year after accounting adjustments.

Aeromexico carried 3.78 million passengers in the fourth quarter, or about 5,000 more than that number in the fourth quarter of 2011.

International passenger numbers increased 0.6% and domestic passengers were nearly the same in the fourth quarter. Fifty-four percent of passenger revenues were from domestic flights, with the remaining 46% generated from international service.

Total available seat kilometers for the 2012 fiscal increased 4% in 2012 to 7.9 million and revenue passenger kilometers were flat at nearly 6 million. Load factor for the 2012 year decreased by 2.2 percentage points to 75.9%.

Cost per available seat kilometer increased 5.4% in fiscal 2012 excluding fuel and the consolidation of Aeromexico Cargo, affected by depreciation in the exchange rate between Pesos and US dollars.