Fyano773 From Mexico, joined Mar 2004, 784 posts, RR: 1 Posted (7 years 11 months 1 week 5 days 4 hours ago) and read 3522 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):
Fyano773 From Mexico, joined Mar 2004, 784 posts, RR: 1
Reply 1, posted (7 years 11 months 1 week 4 days 3 hours ago) and read 3366 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?
EddieDude From Mexico, joined Nov 2003, 7587 posts, RR: 43
Reply 2, posted (7 years 11 months 1 week 4 days 3 hours ago) and read 3353 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.
Juventus From United States of America, joined Dec 2004, 2835 posts, RR: 2
Reply 3, posted (7 years 11 months 1 week 4 days 1 hour ago) and read 3336 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.