Aeromexico has posted an operating profit of 189 million Mexican pesos ($15.4 million) in its first quarter, about half of the 362 million pesos operating profit it reported a year ago.
The SkyTeam carrier reported revenues of 9.17 billion pesos in a record for the first quarter, up 0.4% year-on-year. Operating expenses rose 2.3% during the quarter to 8.99 billion pesos.
The airline recorded a net loss of 122 million pesos, which it says partly reflects the effect of various non-recurring items such as a net negative impact of 57 million pesos related to currency fluctuations and adjustments to the company's fuel hedging position.
Passenger traffic rose 1.3% in the quarter and capacity was up 6.1%. The passenger load factor fell 3.4 percentage points to 73.5%. Yields fell 0.9% in the quarter to 1.5 Mexican peso.
During the first quarter, the carrier retired two aircraft from its fleet - an Embraer 145 and a Boeing 737-700. It also added a 737-800 under an operating lease. As of the end of the first quarter, Aeromexico operated 115 aircraft, compared with 106 a year ago.