Grupo Aeroméxico released its operating and financial results report for the first quarter of the year. Thanks to the recovery in demand for air travel, the company operated more flights and transported more passengers than in the same period of 2021. It also reported improved profit margins.
Operating Results
- Grupo Aeroméxico’s capacity, measured in available seat kilometers, increased 40% compared to the first three months of 2021.
- The occupancy factor reached 75.6%, 6.8 percentage points higher than in the same period of 2021.
- The company reported a 31.2% growth in the number of passengers carried, thanks to the recovery of demand in both the domestic and international markets. In total, there were 4.14 million customers.
- The total number of passengers carried on domestic flights increased by 13.4% compared to the first quarter of 2021. Meanwhile, the increase was 105% year-on-year in the international market.
- 76.77% of flights operated on time.
- The company’s fleet as of March 31th consisted of 134 operational aircraft. Aeroméxico had 92, all Boeing aircraft: 18 B787s, one B737-700, 36 B737-800s, 27 B737 MAX 8s and 10 B737 MAX 9s. Aeroméxico Connect operated 42 Embraer 190s.
- During the first quarter, Aeroméxico took delivery of ten new Boeing 737 MAX aircraft.
- At the end of the quarter, the average age of the fleet was 7.8 years.
Financial Results
- Total revenues reached MXN 12.9 billion, 88.4% higher than in the first quarter of the previous year. The figure fell short of expectations for an 8% increase. The company’s revenues continued to be 20% below those reported before the pandemic.
- Revenues from international travel sales represented 56.9% of total ticket sales revenues. The domestic market accounted for the remaining 43.1%.
- Fuel expense increased by an average of 66.6% per liter.
- Aircraft lease expenses increased compared to the first quarter of 2021.
- The airline reported an MXN 3.095 million loss in net income, especially due to higher costs and higher fuel prices. Operating income fell to MXP 763 million; the previous year it had been MXP 3.445 billion.
“The company expects a favorable recovery in passenger traffic and, going forward, we expect a greater demand for international flights, as a result of the opening of borders to flights in countries such as Canada and the United States”, stated Aeroméxico.
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