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Aeroméxico Reports Unaudited Third Quarter 2026 Results

AEROBMV:AERO
  • Grupo Aeroméxico reported record quarterly total revenue of $1.6 billion for the three months ended September 30, 2026.
  • Total revenue increased 13.6% year-over-year, driven by strong international markets, premium revenue growth, & loyalty program momentum.
  • Adjusted EBITDAR margin reached 24.0% while operating margin stood at 12.0% despite jet fuel prices hitting historic highs.
  • Total fuel expenses rose 57.6% year-over-year to $469.0 million due to benchmark prices averaging $4.0 per gallon.
  • Capacity measured in available seat miles (ASMs) increased 1.3% year-over-year as the company optimized network deployment.
  • The company updated its loyalty program breakage, resulting in $48.7 million in recognized revenue for the period.
  • Net income for the quarter totaled $40.6 million with a 2.5% margin, while net financing costs increased 7.7%.
  • Liquidity reached $1.2 billion, representing 20.7% of last-twelve-month revenues, supported by $541.7 million in operating cash flow.
  • The operating fleet grew to 170 aircraft as of September 30, 2026, following the delivery of one Boeing 787-9.
  • Full-year 2026 guidance includes total revenue growth of 13.5% to 14.5% & an adjusted EBITDAR margin of 21.5% to 22.5%.
  • Fourth quarter 2026 guidance anticipates revenue growth of 14.0% to 16.0% & an adjusted EBITDAR margin of 19.5% to 21.5%.
  • Outlook assumes an average fuel price of $4.5 per gallon & an exchange rate of $18.0 Mexican pesos per U.S. dollar for Q4.
  • Total cost per ASM excluding fuel (CASM-Ex) increased 7.1% year-over-year to 10.1 cents, driven by peso strength & inflation.
  • The company repaid $7.2 million of financial debt during the quarter & upsized its revolving credit facility to $250.0 million.