MEXICO CITY, Oct 20 (Reuters) - Mexican airline Aeromexico
on Tuesday posted a net loss of $130.38 million in the third
quarter under the strain of the coronavirus pandemic, yet said
passenger demand had begun to revive.
The drag on profits was considerably narrower than in the
prior quarter, when Aeromexico posted a net loss of $1.19
"In spite of the complicated environment, the market has
shown signs of recovery," Aeromexico said in a statement, noting
that its passenger capacity increased 68% since the second
quarter, with more than a million people taking flights,
especially domestic routes.
The company also reduced its workforce by 96 people, after
cutting nearly 2,000 positions in the prior quarter.
Aeromexico in June began a Chapter 11 restructuring process,
becoming the third airline to file for bankruptcy protection in
Latin America, and has since received approval for up to $1
billion in financing.
Total revenue in the July to September period fell to 4.67
billion pesos ($211.3 million) from 18.35 billion pesos a year
earlier, said Aeromexico, which is part-owned by Delta Air Lines
Its net loss in the quarter amounted to 2.88 billion pesos,
compared with a net profit of 65.8 billion pesos a year ago.
($1 = 22.1050 pesos at end-September)
(Reporting by Daina Beth Solomon; Editing by Frank Jack Daniel
and Stephen Coates)