Aeromexico sees ‘encouraging signs’ for 2021

Despite significant 2020 losses and an ongoing bankruptcy proceeding, Grupo Aeromexico, the parent of Aeromexico, sees “encouraging signs of recovery”. In Q4 of 2020, the airline’s revenue declined 58% year-on-year to 7.2b pesos ($357m), down from $17.2b pesos during the same quarter in 2019, the carrier reports on 16 February. Nevertheless, revenue was up more than 50% from Q3, Aeromexico says. The company’s loss for the October-December period was 9.7b pesos, bringing its full-year 2020 loss to 42.5b pesos. Still, the airline is confident it has turned the corner. “The global airline industry continues facing unprecedented challenges due to substantial declines in demand for air transportation worldwide,” the carrier says. “In spite of the current challenging environment, the market showed encouraging signs of recovery.” The airline’s Q4 capacity increased 40% from Q3. Domestic capacity rose by 35% in the quarter. <br/>