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Aeromexico posts slimmer quarterly loss, eyes pickup amid pandemic

Mexican airline Aeromexico on Tuesday posted a net loss of $130.38m in Q3 under the strain of the coronavirus pandemic, yet said passenger demand had begun to revive. The drag on profits was considerably narrower than in the prior quarter, when Aeromexico posted a net loss of $1.19b. “In spite of the complicated environment, the market has shown signs of recovery,” Aeromexico said, noting that its passenger capacity increased 68% since Q2. Aeromexico in June began a Chapter 11 restructuring process, becoming the third airline to file for bankruptcy protection in Latin America, and has since received approval for up to $1b in financing. Total revenues in the July to September period fell to 4.67b pesos from 18.35b pesos a year earlier, said Aeromexico. Its net loss in the quarter amounted to 2.88b pesos, compared with a net profit of 65.8b pesos a year ago.<br/>