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Aeromexico posts third-quarter net loss of almost $109 million -Breaking

by Mike Robinson

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© Reuters. Aeromexico airplanes are pictured at the Benito Juarez International airport, in Mexico City, Mexico, July 14, 2021. Picture taken July 14, 2021. REUTERS/Luis Cortes/Files

MEXICO CITY (Reuters) – Grupo Aeromexico, which operates Mexico’s largest airline, reported on Tuesday a net loss of 2.24 billion pesos ($108.7 million) in the third quarter, versus a net loss of 2.88 billion pesos from the same period last year.

Aeromexico, which has been undergoing a reorganization under Chapter 11 of the Bankruptcy Code in the United States, posted 13.23 billion pesos in revenue for the third quarter, up from 4.67 billion a year earlier.

“Despite the complex environment, the market has shown signs of recovery,” Aeromexico said in a filing with the Mexican stock exchange.

The airline said its total capacity, as measured in available seat kilometers (ASKs), increased 24.8% compared to the second quarter of 2021, driven by the recovery of 35.4% in capacity assigned to the international market and 11.6% to the domestic market.

($1= 20.642 pesos at end-September)

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