Posted on July 25, 2022.

Grupo Aeroméxico has reported a 91.5% rise in revenue to MXN19.2 billion pesos (USD928 million), with a 22% increase in revenue per available seat kilometre (RASK) year-on-year, according to the company's unaudited consolidated results for the second quarter of 2022.

This follows the March 17, 2022, successful conclusion of its financial restructuring process and emergence from US Chapter 11 restructuring.

EBITDAR amounted to MXN2.9 billion (USD140.2 million), a year-over-year increase of MXN1 billion (USD48.3 million).

In the second quarter of 2022 operating profit totalled MXN626 million (USD30.2 million), an improvement of MXN1.8 billion (USD87 million) over the same period in 2021.

As of June 30, 2022, the group's cash position stood at MXN17.8 billion (USD 883 million). Excluding restricted cash, the group's cash balance was MXN17.0 billion (USD845 million). At the quarter-end, Aeromexico contributed USD430 million to PLM capital stock as part of an agreement to acquire the remaining 49% of PLM, which operates the airline's Club Premier loyalty programme.

Grupo Aeromexico said its capacity, measured in available seat kilometres (ASKs), increased 56.8% yearly, primarily driven by the sequential recovery in domestic and international markets.

Cost per available seat kilometres (CASK) in dollars, excluding fuel, was USD0.045, a decrease of 23.0% compared to the same period of 2021, reflecting structural cost efficiency achievements.

As of June 30, 2022, Aeromexico's operating fleet comprised 140 aircraft, 22 more than the second quarter of 2021.

As reported, last month, Grupo Aeromexico announced plans to delist from the Mexican Stock Exchange and trade in New York instead by the end of the year in search of a more liquid stock market. Its Chapter 11 exit plan included a clause promising to delist in Mexico to find better markets with more liquidity.

Original article: https://www.ch-aviation.com/portal/news/117683-grupo-aeromxico-almost-doubles-revenue-to-close-on-1bn

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