MEXICO CITY, Oct. 22, 2019 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), today reported its unaudited consolidated results for the third quarter 2019.

KEY FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER 2019

• Grupo Aeromexico's third quarter 2019 revenue reached $18.3 billion pesos, a 0.7% year-on-year increase. During the quarter Revenue per ASK (RASK) increased by 4.1% and yield increased by 5.6% compared to the same period of 2018.

• In spite of lower capacity resulting from the MAX grounding, year-on-year CASK in pesos decreased by 1.5% and CASK excluding fuel in dollars decreased 1.3%, highlighting Grupo Aeromexico´s ongoing focus on optimizing unit costs.

• Third quarter EBITDAR reached $4.4 billion pesos, an increase of 27.8% year-on-year. EBITDAR margin was 23.8%.

• For the third quarter of 2019, Grupo Aeromexico reported an operating profit of $1.3 billion pesos, equating to a 7.0% operating margin. This is a $1.0 billion pesos year-on-year improvement compared to the same period of 2018.

• Aeromexico reported a net income of $65 million pesos for the third quarter 2019 for a net margin of 0.4%.  This represents an improvement of $682 million pesos compared to the same period of 2018.

• Third quarter cash flow generation was strong with $1.8 billion pesos in incremental cash flow generated from operating activities. Aeromexico´s cash position as of September 30^th, 2019 was $7.7 billion pesos. This brings Aeromexico´s cash to last-twelve-month revenue ratio to 11.0%.

• During the quarter, the Company redelivered one aircraft. As of September 30^th, 2019, Grupo Aeromexico's operating fleet comprised 121 aircraft, excluding the six Boeing 737 MAX aircraft temporarily grounded.

• Grupo Aeromexico's third quarter capacity, measured in available seat kilometers (ASKs) decreased by 3.3% year-on-year, resulting from the temporary grounding of the 737 MAX aircraft.  The Company is continuing to assess the financial impact of both the grounding of the 737 MAX aircraft in its fleet and the current and expected future delays in delivery of additional 737 MAX aircraft and will seek compensation and other remedies as appropriate. The date for re-entry of the 737 MAX to service remains uncertain.

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.

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 85 cities on three continents, including 43 destinations in Mexico, 18 in the United States, 16 in Latin America, 4 in Canada, 5 in Europe and 3 in Asia.

The Group's operating fleet of 121 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 Dreamliners.

As a founding member of the SkyTeam airline alliance, Aeromexico offers customers more than 1,000 destinations in 179 countries served by the 19 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.

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SOURCE Grupo Aeromexico S.A.B. de C.V.