The Mexican carrier Grupo Aeromexico bounced back to profitability in the third quarter of 2022, following a string of net losses due to the COVID-19 pandemic and the company’s Chapter 11 bankruptcy procedures.

How much money did Aeromexico earn in 2022’s third quarter?

The third quarter –composed between July and September– is traditionally Mexico’s high season and when the local carriers record the most profits. Aeromexico had a total revenue worth 21.4 billion Mexican pesos (about US$1.07 billion), which is an increase of 61.7% compared to the revenue it created in the same period last year.

About 47% of the revenue Aeromexico obtained during the quarter came from international passenger tickets; 32% came from domestic passengers, and the remainder from ancillary products, air cargo, and charter flights. It is interesting to see this because Aeromexico has been losing ground in the domestic market to the ultra-low-cost competitors in the country, Volaris and Viva Aerobus; meanwhile, the international segment remains a stronghold for the SkyTeam member.

Operational costs for the Mexican carrier totaled 16.5 billion pesos (around US$830 million), which left Aeromexico with an EBITDAR (Earnings Before Interest, Taxes, Depreciation, and Amortization) of 4.87 billion pesos (US$245 million). Nonetheless, due to lease payments, depreciation, Chapter 11 fees, and other financial impacts, Aeromexico’s net income for the quarter was 210 million pesos (US$10.5 million).

An Aeromexico aircraft

Photo: Daniel Martínez Garbuno | Simple Flying.

How many passengers did Aeromexico carry in the quarter?

The Mexican aviation industry has fully bounced from the COVID-19 pandemic in 2022 in terms of carried passengers. Up to August 2022, the country had received almost 70 million passengers, growing by 2% compared to the pre-pandemic traffic levels.

In 2022’s third quarter, Aeromexico carried 5.89 million passengers, with an 84% load factor on its flights. Compared to 2019’s third quarter, Aeromexico had 11.5% more passengers this past trimester.

Throughout 2022, Aeromexico has carried 15.58 million passengers, with an 81% load factor. The Mexican carrier had a minimal growth compared to 2019 levels when it carried 15.57 million passengers in the first nine months of the year. Moving forward, we should expect Aeromexico to keep adding more passengers as we move on to the final quarter of the year.

An Aeromexico Boeing 737 is seen at Terminal 2 of Benito Juarez International Airport, in Mexico City, Mexico on January 09, 2022.

Photo: Getty Images.

How many aircraft did Aeromexico add in the quarter?

Aeromexico has the largest fleet by size in Mexico. By September 30, 2022, Aeromexico had a fleet composed of 141 aircraft. During the quarter, the airline received only one Boeing 737 MAX unit. Compared to the third quarter in 2020, when the COVID-19 pandemic had the worst impact on the airline industry worldwide, Aeromexico currently has 40 more aircraft.

Did you know? We recently flew onboard an Aeromexico’s Boeing 737 MAX 8 and a 787 Dreamliner 9. You can read our travel reviews here and here.

Aeromexico currently operates 18 Boeing 787 Dreamliners, its only widebody fleet. It also flies one Boeing 737-700 (the last of a dying breed in the Mexican airline), 36 B737-800s, 32 B737 MAX 8s, 12 B737 MAX 9s, and 42 Embraer E190, employed by Aeromexico’s regional branch, Aeromexico Connect.

What do you think about Aeromexico’s third quarter results? Let us know in the comments below.

Source: simpleflying.com

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