Fyano773
Topic Author
Posts: 536
Joined: Fri Mar 12, 2004 11:03 am

AeroMexico Posts $11.4M Profit In 3Q

Fri Oct 27, 2006 4:19 am

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
 
Fyano773
Topic Author
Posts: 536
Joined: Fri Mar 12, 2004 11:03 am

RE: AeroMexico Posts $11.4M Profit In 3Q

Sat Oct 28, 2006 5:19 am

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]
 
EddieDude
Posts: 6166
Joined: Fri Nov 14, 2003 10:19 am

RE: AeroMexico Posts $11.4M Profit In 3Q

Sat Oct 28, 2006 5:27 am

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-LAX AM 738, LAX-PVG DL 77L, SHA-PEK CA 789, PEK-PVG CA A332, PVG-ORD MU 77W, ORD-MEX AM 738
 
juventus
Posts: 2017
Joined: Tue Dec 07, 2004 11:12 pm

RE: AeroMexico Posts $11.4M Profit In 3Q

Sat Oct 28, 2006 6:56 am

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.
 
Magyarorszag
Posts: 1072
Joined: Sun Sep 04, 2005 5:53 am

RE: AeroMexico Posts $11.4M Profit In 3Q

Wed Nov 01, 2006 7:10 am

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.

Who is online

Users browsing this forum: 9QTNCC, AAlaxfan, ACDC8, AVLAirlineFreq, cornishsimon, fun2fly, GCT64, georgiabill, Google [Bot], Google Adsense [Bot], gregn21, hoons90, kann123air, KLAM, LHRBFSTrident, qf789, timberwolf24, trex8, wn676 and 324 guests