Aeromexico operating profit falls 29% in Q1

Washington DC
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Aeromexico has posted a 29% decline in operating profit to Mexican pesos (Ps) 452 million (34.3 million) for its first quarter, down from Ps634 million in the corresponding period a year ago.

The carrier recorded a 49% dip in net income to Ps135 million for the three months ended 31 March, down from Ps264 million.

Revenues reached a record high of Ps9.2 billion with 17% year over year growth, driven by strong passenger traffic and an increasing load factor.

Operating expenses rose 29.5% to Ps5 billion year-on-year, says the SkyTeam carrier.

Passenger traffic in the quarter rose 9% while capacity grew 7%. The passenger load factor increased 1.4 percentage points to 76.9%.