Fyano773 From Mexico, joined Mar 2004, 789 posts, RR: 1 Posted (1 year 5 months 5 days 4 hours ago) and read 2429 times:
Despite a strike attempt that was averted and though conditions in the domestic market, the airline improved financial and operating figures over last year same period. Operating margin was 7.9% and net margin reached 3.4%:
Grupo Aeromexico, S.A.B. de C.V. Releases Results for the Second Quarter 2013
MEXICO CITY, July 23, 2013 /PRNewswire/ -- Grupo Aeromexico, S.A.B. de C.V. (AEROMEX.MX), the largest global airline in Mexico, today reported its unaudited consolidated results for the second quarter 2013. Highlights:
Revenue: MXN9500 million (USD757.3 million), -3.2% year-on-year;
Excess baggage: MXN82 million (USD6.5 million), +17%
Total operating costs: MXN7525 million (USD599.9 million), -4.9%;
Fuel: MXN2879 million (USD229.5 million), -11.9%
Labour: MXN2067 million (USD164.8 million), +4.3%
Operating profit: MXN747 million (USD59.5 million), +15.1%
Net profit: MXN322 million (USD25.7 million), +111%
Passenger numbers: 3.6 million, +0.6%;
Scheduled service load factor: 75.9%, -0.7 ppt;
Revenue per ASK: MXN1.25 (USD 9.9 cents), -5.25;
Total cost per ASK: MXN1.15 (USD 9.2 cents), -6.5%;
Cost per ASK excl fuel: MXN0.77 (USD 6.1 cents), -2.6%;
AM retired five aircraft from its fleet in the second quarter 2013, including four 145s and one 762 (XA-TOJ), all under lease agreements. The Company also added two 175s aircraft to its fleet under operating lease. AM's operative fleet consisted of 112 aircraft as of June 30, 2013.
AM's On-Time Departure Performance for the January-June 2013 period reached 91.5%, representing a 10.8 percentage point improvement as compared to the same timeframe last year.
AM strategy is in the right direction and has performed well, even better than some LCC in the country. The airline will receive the first Dream)Liner next month, so the outlook of the company remains positive.
Rumors are that AM's management is looking for two 763s to be leased temporarily as the current widebody fleet of 10 air frames is stretched pretty thin and ongoing technical issues still pose a risk with the launch of the 787. Already, AM has announced full use of its first four 787s to fly to Tokyo, Paris, New York, Buenos Aires and London and studies are being done to possibility launch Rio next year with a 767.
They should do even better with fuel eficient 787. Not to mention the Government's hault of any more routes and slots
into Mexico City. AM should see more gains this year as predicted. Interjet unable to grow and with the(Russian) new plane flaws, and a high debt might be in a tight spot. As well as Volaris and it's questionable ownership.