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AeroMexico Posts 01Q11 Profit - 465M Net  
User currently offlineFyano773 From Mexico, joined Mar 2004, 784 posts, RR: 1
Posted (3 years 4 months 3 weeks 2 days 14 hours ago) and read 2852 times:

AM reported net income of 465 million MXN (39 million USD) in the first quarter:

PRINCIPALES RESULTADOS FINANCIEROS DEL PRIMER TRIMESTRE DE 2011 DE GRUPO AEROMÉXICO

In a statement released by Bolsa Mexicana de Valores (Mexico’s stock exchange), AM credited the result to robust sales growth, improvement in operating efficiencies and strengthening cargo.


Highlights

  • Operating income jumped to 1,466 million MXN ($122M) over 636 million MXN ($53M) posted in last year same period.

  • AM carried 3.2 million passengers, up 30% YOY.

  • ASKs rose 27% and passenger load factor improved 1.1 points to 75.5%.

  • CASK was down 5% over the year ago quarter.

  • Positive results offset a 40% increase in fuel prices during the period.

  • The company said this was a great first quarter, despite Easter fell in April rather than March, so a stronger second quarter is expected.

    Yes, the aftermath of MX’s demise helped to improve performance, albeit the airline was profitable prior to MX’s exit:

    Aeromexico back in the black after 2009 restructuring

    …but that is or was part of the game and the airline has prevailed.

    Fyano


  • 8 replies: All unread, jump to last
     
    User currently offlineSplitterz From United States of America, joined Apr 2011, 204 posts, RR: 0
    Reply 1, posted (3 years 4 months 3 weeks 2 days 13 hours ago) and read 2785 times:

    Great news for a great carrier! Congrats to AeroMexico!

    User currently offlinedanfearn77 From United Kingdom, joined Jul 2008, 1813 posts, RR: 8
    Reply 2, posted (3 years 4 months 3 weeks 2 days 13 hours ago) and read 2761 times:

    I nearly exploded when I read this, I took it as 465M US dollars haha!!


    Eagles may soar high, but weasels dont get sucked into jet engines!
    User currently offlineRCS763AV From Colombia, joined Jun 2004, 4395 posts, RR: 12
    Reply 3, posted (3 years 4 months 3 weeks 2 days 12 hours ago) and read 2657 times:

    Good results from AM! It's great to see one of the mexican legacies making money...


    Les escribo desde el frío de mi verde altiplano.
    User currently offlineFlyASAGuy2005 From United States of America, joined exactly 7 years ago today! , 7004 posts, RR: 11
    Reply 4, posted (3 years 4 months 3 weeks 2 days 11 hours ago) and read 2570 times:

    Quoting danfearn77 (Reply 2):
    I nearly exploded when I read this, I took it as 465M US dollars haha!!

    Me too!!!

    Likewise, glad to see AeroMex doing well. They seemed to had fallen in a slump over the past few years (just like everyone else I suppose) but they are posting pretty solid numbers and the word is that they continue to do well transporting a large portion of Sky pax through Mexico.



    What gets measured gets done.
    User currently offlineFyano773 From Mexico, joined Mar 2004, 784 posts, RR: 1
    Reply 5, posted (3 years 4 months 2 weeks 6 days 15 hours ago) and read 2128 times:

    In other news, after last month IPO ( Aeromexico IPO Today (by pzurita1 Apr 14 2011 in Civil Aviation) ), AM may raise 690M USD in a future offering:

    http://www.elsemanario.com.mx/news/news_display.php?story_id=10000187

    Chief Executive, Conesa said a new placement will no take place in the short term but they expect to do so in the foreing markets later on.

    Fyano


    User currently offlineBGOODAM From Mexico, joined Apr 2005, 152 posts, RR: 0
    Reply 6, posted (3 years 4 months 2 weeks 19 hours ago) and read 1876 times:

    Good for AM, I believe the NYSE is next for them. They are adding routes, glad to see them in Sacramento.

    User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17511 posts, RR: 45
    Reply 7, posted (3 years 4 months 2 weeks 19 hours ago) and read 1862 times:

    Quoting RCS763AV (Reply 3):
    Good results from AM! It's great to see one of the mexican legacies making money...

    It is, but what are they doing to remain competitive, because Y4 and 4O are not going to be as easy to compete with as MX.



    E pur si muove -Galileo
    User currently offlineBGOODAM From Mexico, joined Apr 2005, 152 posts, RR: 0
    Reply 8, posted (3 years 4 months 2 weeks 17 hours ago) and read 1787 times:

    I believe AM is letting the others fight it out amongst themseves with their low cost model ( i there is any in Mexico) and basically focus on their market, nothing is guranteed yet, even for Y4 and IJ. One thing is for sure though, that ever lasting battle between who is or was going to turn out the Major player in Mexico, pretty much has been determined and the outlook, profits and future investments that AM has commited itself to doing highlights their dominance.

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