Grupo Aeromexico Q2 net income down 73%
Grupo Aeromexico reported MXP28m (US$1.5m) in net income for Q2 2016, down 72.5% from its MXP102m net profit in the year-ago period. The carrier cited the positive aspect of reduced fuel prices and the negative impact of the Mexican peso’s depreciation against the US dollar as factors behind the Q2 results. During Q2, the peso depreciated by an average of 18.3% year-over-year (YOY) relative to the US dollar. By the end of Q2, the peso’s YOY depreciation against the dollar was 16.3%, from MXP15.70 in 2015 to MXP18.26 in 2016. The carrier’s Q2 fuel expenses came to MXP2.6b, down 11.9% YOY. Peso-dominated fuel prices fell 13.1% YOY during the June quarter. Q2 revenue increased 9.7% YOY to MXP12.37b, while total expenses rose 10% YOY to MXP12b, producing an operating profit of MXP385m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-07-21/sky/grupo-aeromexico-q2-net-income-down-73
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Grupo Aeromexico Q2 net income down 73%
Grupo Aeromexico reported MXP28m (US$1.5m) in net income for Q2 2016, down 72.5% from its MXP102m net profit in the year-ago period. The carrier cited the positive aspect of reduced fuel prices and the negative impact of the Mexican peso’s depreciation against the US dollar as factors behind the Q2 results. During Q2, the peso depreciated by an average of 18.3% year-over-year (YOY) relative to the US dollar. By the end of Q2, the peso’s YOY depreciation against the dollar was 16.3%, from MXP15.70 in 2015 to MXP18.26 in 2016. The carrier’s Q2 fuel expenses came to MXP2.6b, down 11.9% YOY. Peso-dominated fuel prices fell 13.1% YOY during the June quarter. Q2 revenue increased 9.7% YOY to MXP12.37b, while total expenses rose 10% YOY to MXP12b, producing an operating profit of MXP385m. <br/>
