Grupo Aeromexico, parent of the Mexican flag carrier, managed to keep operating profit steady in the second quarter compared to last year despite falling revenues and costs.
Operating profit increased slightly from 744 million pesos ($59.5 million) a year ago to 747 million pesos in the quarter ending 30 June. Net income more than doubled year-on-year from 153 million pesos to 322 million pesos.
The SkyTeam carrier improved margins by slashing cost per available seat kilometers by 2.6% year-on-year.
The cost reductons helped because revenues dropped to 9.5 billion pesos in the second quarter from 9.92 billion pesos in the same period a year ago.
Grupo Aeromexico also bolstered its cash reserves, which rose by 906 million pisons compared to the first quarter to 3.15 billion pesos.