Aeromexico posts 2018 net loss on fuel costs, inflation

Grupo Aeromexico reported a net loss for 2018 of MXP1.9b (US$98.6m), reversed from a MXP18m net income a year earlier. Headwinds faced by the Mexico City-based carrier in 2018 included a 35.6% year-over-year increase in fuel costs and a 4.8% annual inflation rate. The airline’s full-year revenue rose 14.3% to MXP70.3b, compared to MXP61.5b in 2017, reflecting gains in passenger, ancillary and cargo revenue. Aeromexico’s total capacity was up 8.2% YOY to 52.9m ASKs. Passenger traffic increased 9% to 43.4m RPKs, and the average annual load factor was up 0.6 points to 82.1%. Yield rose 4% to MXP1.388. Total RASK increased 5.8% to MXP1.327 and total CASK rose 8.1% to MXP1.321. The group carried 21.9m passengers in 2018, a 5.9% YOY increase. Aeromexico reported a full-year operating profit of MXP9m, compared to MXP3.1b in 2017, with a zero operating margin, down 5.1 points.<br/>