The company said the year’s financial results reflected the negative impact of Mexican peso depreciation against the US dollar, combined with increased fuel prices.
Grupo Aeromexico’s full-year revenue increased 14.9% to MXP53.9 billion, while expenses grew 14.7% to MXP50.4 billion. The group’s operating profit for the year totaled MXP3.6 billion, up 17.8% from MXP3 billion in 2015; the operating margin for the year was 6.6%, up 0.1 point from 2015. Air cargo revenue increased 16.7% in 2016 to MXP3.4 billion.
Full-year system traffic was up 8.3% year-over-year (YOY) to 34.8 billion RPKs on a 7.4% rise in capacity to 43.4 billion ASKs, producing a load factor of 80.3%, up 0.6 point from 2015.
2016 RASK increased 7% to 1.244 pesos, matching a 7% rise in CASK for the year, to 1.173 pesos. Total CASK ex-fuel increased 10.2% in 2016 to 0.915 pesos. Yield was up 4.3% for the year, to 1.395 pesos.
The group’s fourth-quarter 2016 net profit was MXP 259 million, a 90.7% increase on MXP136 million in 4Q 2015. Operating revenue for the quarter was MXP15 billion, up 19.5% over MXP 12.6 billion in 4Q 2015. Operating expenses totaled MXP14 billion, up 20.7% YOY. Operating profit for the quarter totaled MXP1.1 million, up 6% YOY.
Grupo Aeromexico added four aircraft under operating lease agreements to its fleet during the 2016 fourth quarter, including one Boeing 787-9 and three Embraer E190s. The airline also took delivery of two 787-9s under Japanese operating lease with call options. One 777 and three E175s were retired during the quarter, bringing the Group’s total fleet (between Aeromexico and regional carrier Aeromexico Connect) to 133 aircraft, up eight aircraft from 2015.
(Mark Nensel - ATWOnline News)