Aeromexico Reports 1Q20 Results

MEXICO CITY, April 21, 2020 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), today reported its unaudited consolidated results for the first quarter 2020.

KEY FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2020

• Grupo Aeromexico's first quarter capacity, measured in available seat kilometers (ASKs) decreased by 9.1% year-on-year, resulting primarily from the impact of the COVID-19 pandemic. Additionally, year-on-year capacity was negatively impacted by the grounding of the Boeing 737 MAX aircraft since March 2019.

• Grupo Aeromexico's first quarter 2020 revenue reached $14.1 billion pesos, a 14.0% year-on-year decrease. During the quarter, revenue per ASK (RASK) in pesos decreased by 5.3% while yield increased by 0.9%. International yield increased by 2.8%, partially offset by domestic yield which reduced by 3.5% compared to the same period of 2019.

• Year-on-year cost per ASK (CASK) in pesos increased by 2.7%. CASK in dollars decreased by 1.1% compared to the same period of 2019. CASK was affected by reduced operations derived from the impact of the COVID-19 pandemic.

• First quarter EBITDAR reached $1.5 billion pesos. EBITDAR margin was 10.7%.

• For the first quarter of 2020, Grupo Aeromexico reported an operating loss of $1.8 billion pesos, equating to a 12.7% negative operating margin

• Aeromexico reported a net loss of $2.5 billion pesos for the first quarter 2020 for a negative net margin of 17.8%.

• First quarter cash flow generation from operating activities reached $3.3 billion pesos. Aeromexico´s cash position as of March 31st, 2020 was $13.2 billion pesos, equivalent to $563 million dollars. This brings Aeromexico´s cash to last-twelve-month revenue ratio to 19.9%.

• As of March 31st, 2020, Grupo Aeromexico's operating fleet comprised 119 aircraft, excluding the six Boeing 737 MAX aircraft temporarily grounded.

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.

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 80 cities on three continents, including 42 destinations in Mexico, 17 in the United States, 15 in Latin America, 4 in Canada, 5 in Europe and 2 in Asia.

The Group's operating fleet of 119 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 more than 170 countries served by the 19 SkyTeam airline partners rewarding passengers with benefits including access to more than 790 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.