Aeromexico posts Q3 net loss on currency depreciation, high fuel prices
Aeromexico reported a MXP617m ($32.9m) net loss for Q3 of 2018, reversed from a MXP344m net profit in the year-ago quarter. The Mexico City-based full-service carrier cited a combination of a nearly 7% year-over-year (YOY) depreciation of its national currency and a 46% increase in Mexican peso-dominated fuel prices for the loss. The airline’s revenue for the quarter increased 14.4% YOY to MXP18.2b, as ancillary revenue generated by upgrades and seat selection options soared—as part of the carrier’s branded fare structure introduced in March—to MXP1.4b, up 27.5% compared to Q3 2017. Revenue per available seat kilometer (RASK) rose 7.4%, while yield increased 6.5%. Aeromexico’s costs per ASK in pesos increased 15% YOY while costs in dollars rose 7.8% during the quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-10-19/sky/aeromexico-posts-q3-net-loss-on-currency-depreciation-high-fuel-prices
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Aeromexico posts Q3 net loss on currency depreciation, high fuel prices
Aeromexico reported a MXP617m ($32.9m) net loss for Q3 of 2018, reversed from a MXP344m net profit in the year-ago quarter. The Mexico City-based full-service carrier cited a combination of a nearly 7% year-over-year (YOY) depreciation of its national currency and a 46% increase in Mexican peso-dominated fuel prices for the loss. The airline’s revenue for the quarter increased 14.4% YOY to MXP18.2b, as ancillary revenue generated by upgrades and seat selection options soared—as part of the carrier’s branded fare structure introduced in March—to MXP1.4b, up 27.5% compared to Q3 2017. Revenue per available seat kilometer (RASK) rose 7.4%, while yield increased 6.5%. Aeromexico’s costs per ASK in pesos increased 15% YOY while costs in dollars rose 7.8% during the quarter. <br/>
