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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Grupo Aeroméxico, S.A.B. de C.V.    AEROMEX *   MX01AE010005

GRUPO AEROMÉXICO, S.A.B. DE C.V.

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Grupo Aeromexico B de C : Aeromexico posts slimmer quarterly loss, eyes pickup amid pandemic

10/20/2020 | 06:45pm EST

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 billion.

"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)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DELTA AIR LINES, INC. -1.37% 42.36 Delayed Quote.-26.56%
GRUPO AEROMÉXICO, S.A.B. DE C.V. 10.68% 6.84 End-of-day quote.-56.27%
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Financials
Sales 2020 32 098 M 1 621 M 1 621 M
Net income 2020 -34 828 M -1 759 M -1 759 M
Net Debt 2020 65 131 M 3 290 M 3 290 M
P/E ratio 2020 -0,13x
Yield 2020 -
Capitalization 4 666 M 236 M 236 M
EV / Sales 2020 2,17x
EV / Sales 2021 1,48x
Nbr of Employees 14 601
Free-Float 49,2%
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Income Statement Evolution
Consensus
 
Mean consensus SELL
Number of Analysts 3
Average target price 2,50 MXN
Last Close Price 6,84 MXN
Spread / Highest target -41,5%
Spread / Average Target -63,5%
Spread / Lowest Target -85,4%
EPS Revisions
Managers
NameTitle
Andrés Conesa Labastida Chief Executive Officer & Executive Director
Francisco Javier de Arrigunaga Gómez del Campo Chairman
James W. Sarvis Chief Operations Officer & Executive VP
Ricardo Javier Sánchez Baker Chief Financial Officer & Executive Vice President
Antonio Cosío Pando Independent Director
Sector and Competitors