Operating profit at Grupo Aeroméxico has fallen by 32.2% to MXP2.5 billion ($197.1 million), although revenue increased by a record 10.5% to MXP39.5 billion. Net income was down 25.3% to MXP1.3 billion. Operating expenses rose 15.5% to MXP37 billion, mainly due to a 6% increase in the number of operations, a 10.2% increase in Mexican peso denominated fuel prices, a 5.8% depreciation of the Mexican peso in relation to the US dollar and the effects of financial consolidation of Aeroméxico Cargo operations.
The group flew 3.7% more passengers in 2012 to 23.4 billion RPKs, with ASKs up by 6%. As a result load factor decreased by 1.8 percentage point to 76.6%. Passenger numbers grew 6.5% in international markets and 10.3% domestically.
Grupo Aeroméxico stated it “executed the most ambitious investment program in the company's history” last year, “making payments of MXP4.2 billion in fixed assets investments, aircraft purchase prepayments, guarantee deposits and the amortization of debt not related to the purchase of aircraft.”
Profits slump for Aeroméxico
