MEXICO CITY, Feb. 18, 2014 /PRNewswire/ — Grupo Aeromexico, SAB de CV, the largest global airline in Mexico, today announced its unaudited results for the fourth quarter and full year 2013.
FOURTH QUARTER 2013 RESULTS
The Group reported a 71.8% increase in operating profit, year-on-year, for a total of MXP $634 million. Aeromexico achieved an operating margin of 5.9%; 2.2 percentage points greater than the same period last year.
Fourth quarter adjusted EBITDAR reached MXP $2.1 billion; a 26.4% increase compared to the prior year. The adjusted EBITDAR margin increased 2.8 percentage points to 19.6%.
Net income in the fourth quarter reached MXP $385 million. Aeromexico reported a MXP $601 million in net benefit in the fourth quarter 2012 due to the sale of a 20 percent stake in PLM, the subsidiary which manages the Group’s loyalty program. Eliminating this effect, fourth quarter of 2012 net income was MXP $10 million.
Grupo Aeromexico’s fourth quarter 2013 revenues reached MXP $10.7 billion; an 8.7% year-on-year increase.
The cost per available seat kilometers (CASK) excluding fuel decreased 5% year-over-year in the fourth quarter, representing the fourth consecutive quarter with a year-on-year decrease in CASK excluding fuel.
The Company added four new aircraft to its fleet: two Boeing 787-8, one Boeing 767 and one Embraer-190, while three Embraer-145 aircraft were retired. Grupo Aeromexico’s operating fleet therefore consisted of 117 aircraft as at December 31, 2013.
The Group’s On-Time Departure Performance for 2013 reached 87.7%; a 7.7 percentage point improvement compared to 2012.
Andres Conesa, Grupo Aeromexico’s CEO, commented: “2013 was known for its challenging economic environment, but we nevertheless succeeded in achieving very strong results during the fourth quarter. On the operational front, we again improved profitability for the fourth consecutive quarter by reducing the cost per ASK (CASK) to be increasingly competitive.”
To access the full text of this earnings release, please visit our Investor Relations website at: http://www.aeromexico.com/investors
Grupo Aeromexico will hold its fourth quarter 2013 results conference call on Wednesday, February 19, 2014 at 11:00 am U.S. ET (10:00 am Mexico City Time).