Aeromexico Reports 1Q19 Results

MEXICO CITY, April 9, 2019 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), today reported its unaudited consolidated results for the first quarter 2019.

KEY FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2019

• Grupo Aeromexico's first quarter capacity, measured in Available seat Kilometers (ASKs) decreased by 3.0% year-on-year, resulting from planned capacity reductions as well as the temporary grounding of six 737 MAX 8 aircraft.
  
  
• Grupo Aeromexico's first quarter 2019 revenue reached $16.4 billion pesos, a 0.5% year-on-year increase. During the quarter Revenue per ASK (RASK) increased by 3.6% compared to the same period of 2018. The temporary grounding of the 737 MAX aircraft led to an estimated revenue loss of approximately $200 million pesos.
  
  
• During the quarter CASK in pesos increased by 6.4% while CASK in dollars increased 3.5%, reflecting the negative impact of a 6.1% increase in peso denominated fuel prices and a 2.7% depreciation of the Mexican peso against the dollar. CASK excluding fuel in pesos increased by 6.5% while CASK excluding fuel in dollars increased 3.7%.
  
  
• First quarter EBITDAR reached $2.8 billion pesos. EBITDAR margin was 17.2%.
  
  
• For the first quarter of 2019, Grupo Aeromexico reported an operating loss of $377 million pesos.
  
  
• Aeromexico reported a net loss of $1.3 billion pesos for the first quarter 2019.
  
  
• First quarter cash flow generation was strong with $2.3 billion pesos in incremental cash flow generated from operating activities. Aeromexico´s cash position as of March 31^st, 2019 was $8.7 billion pesos. This brings Aeromexico´s cash to last-twelve month revenue ratio to 12.4%.
  
  
• During the quarter, the Company incorporated one aircraft into its fleet under an operating lease agreement. As of March 31^st, 2019 Grupo Aeromexico's operating fleet comprised 127 aircraft.

All figures are expressed in millions of pesos unless otherwise indicated. Grupo Aeromexico's financial statements are prepared in accordance with International Financial Reporting Standards (IFRS).  

The International Accounting Standard 1 (IAS 1) "Presentation of Financial Statements" establishes that in the Consolidated Statement of Comprehensive Income additional items, headings and subtotals can be presented when they are relevant to understanding the financial performance of the entity.

To access the full text of this earnings release, please visit Aeromexico's Investor Relations website at:   https://aeromexico.com/en-us/investors.

CONFERENCE CALL DETAILS

To participate in the conference call, please dial:

Registration is required; please dial in at least ten minutes prior to the scheduled start time.

The conference call will be available for replay until May 10, 2019 at 11:00 AM ET:

Replay Conference ID Number: 45489

The conference call replay can also be accessed via Grupo Aeromexico's Investor Relations website: https://aeromexico.com/en-us/investors.

Safe Harbor Statement

This release contains forward-looking statements regarding the Company's results and business prospects. The readers should know that the results obtained may differ from that stated on this release. Past performances do not guarantee the behavior of future performances. The Company undertakes no obligation to update any of these statements, either as a result of new information, future actions or other related events. 

About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico´s global airline, operates more than 600 daily flights and its main hub is in Terminal 2 at the Mexico City International Airport. Its destinations network features more than 90 cities on three continents, including 43 destinations in Mexico, 18 in the United States, 20 in Latin America, 4 in Canada, 5 in Europe, and 3 in Asia.

The Group's operating fleet of 127 aircraft is comprised of Boeing 787 and 737 jet airliners and next generation Embraer 170 and 190 models. In 2012, the airline announced the most significant investment strategy in aviation history in Mexico, to purchase up to 100 Boeing aircraft including 90 MAX B737 jet airliners and 10 B787-9 Dreamliner's.

As a founding member of the SkyTeam airline alliance, Aeromexico offers customers more than 1,000 destinations in 179 countries served by the 20 SkyTeam airline partners rewarding passengers with benefits including access to 636 premium airport lounges around the world. Aeromexico also offers travel on its codeshare partner flights with Delta Air Lines, Air France-KLM, Avianca, Copa Airlines and WestJet, with extensive connectivity in countries like the United States, Brazil, Canada, Colombia and Peru.

www.aeromexico.com 
www.skyteam.com 
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SOURCE Grupo Aeromexico S.A.B. de C.V.