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AeroMexico Posts $11.4M Profit In 3Q  
User currently offlineFyano773 From Mexico, joined Mar 2004, 784 posts, RR: 1
Posted (7 years 9 months 4 weeks 1 day 17 hours ago) and read 3483 times:

Consorcio Aeromexico, the holding company for Aeromexico and Aerolitoral, reported third-quarter net income of 124 million pesos ($11.4 million), narrowed from earnings of 263 million pesos in the year-ago quarter, according to Reuters, revenues were down 0.7% to 5,606 million pesos:

Aeromexico's net falls as operating costs hit
MEXICO CITY, Oct 25 (Reuters) - Airline holding company Consorcio Aeromexico, which run's Mexico's biggest airline Aeromexico, posted a 53 percent drop in third quarter net profit on higher operating costs.

The company , previously called Cintra, said late on Tuesday its net was 124 million pesos ($11 million) in the quarter, down from 263 million pesos a year ago. Operating costs rose 6.4 percent in the quarter, as fuel prices and wages increased. The state-owned company also runs regional airline Aeroliteral, which is in the process of being sold along with Aeromexico.

Revenues totaled 5.606 billion pesos, down 0.7 percent from the same quarter last year. The company said that for sake of comparison, it removed third quarter 2005 earnings figures for airline Mexicana, which it sold to hotel chain Grupo Posadas in late 2005 for $165.5 million. ($1 = 10.9925 pesos at end September)


AM also announced the arrival of the 3rd 777 (N774AM), but nothing about the 4th (the unconfirmed PP-VRB):

CONSORCIO AEROMÉXICO: PRINCIPAL FINANCIAL RESULTS OF THE THIRD QUARTER OF 2006


Fyano

4 replies: All unread, jump to last
 
User currently offlineFyano773 From Mexico, joined Mar 2004, 784 posts, RR: 1
Reply 1, posted (7 years 9 months 4 weeks 16 hours ago) and read 3327 times:

After reading the operating data, I found:

...the greater capacity available in aircraft cargo compartments, the incorporation of a Boeing 767-200 aircraft exclusively for cargo and the implementation of various commercial strategies by the affiliated company Aeromexpress, S.A. de C.V. generated growth of 21.0% in cargo revenue in real terms with respect to the same quarter of 2005...

As far as I know, AeroMexpress doesn't have dedicated planes. Anybody know what's up with that?

Fyano

[Edited 2006-10-27 22:22:25]

User currently offlineEddieDude From Mexico, joined Nov 2003, 7568 posts, RR: 43
Reply 2, posted (7 years 9 months 4 weeks 15 hours ago) and read 3314 times:

A reason for the slim profit is that they received a one-time payment from SENEAM derived from a claim by AM against SENEAM. Without this one-time item, it is possible that AM would have finished in the red.

In any case, during the first three quarters of 2006, AM has an overall loss, so there is still a lot to do in order to bring the airline to profitability.



Next flights: MEX-GRU (AM 77E), GRU-GIG (JJ A320), SDU-CGH (G3 73H), GRU-MEX (JJ A332).
User currently offlineJuventus From United States of America, joined Dec 2004, 2835 posts, RR: 2
Reply 3, posted (7 years 9 months 4 weeks 14 hours ago) and read 3297 times:

Quoting EddieDude (Reply 2):
A reason for the slim profit is that they received a one-time payment from SENEAM derived from a claim by AM against SENEAM. Without this one-time item, it is possible that AM would have finished in the red.

Thanks for the info Eddie, did not know that.


User currently offlineMagyarorszag From , joined Dec 1969, posts, RR:
Reply 4, posted (7 years 9 months 3 weeks 3 days 14 hours ago) and read 3212 times:

Quoting EddieDude (Reply 2):
so there is still a lot to do in order to bring the airline to profitability.

Any particular idea ? I think that for an airline of this size, AM has too many different types of aircraft. Aeromex

Cheers.


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