Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), today reported its unaudited consolidated results for the first quarter 2019.


Grupo Aeromexico's first quarter capacity, measured in Available seat Kilometers (ASKs) decreased by 3.0% year-on-year, resulting from planned capacity reductions as well as the temporary grounding of six 737 MAX 8 aircraft.

Grupo Aeromexico's first quarter 2019 revenue reached $16.4 billion pesos, a 0.5% year-on-year increase. During the quarter Revenue per ASK (RASK) increased by 3.6% compared to the same period of 2018. The temporary grounding of the 737 MAX aircraft led to an estimated revenue loss of approximately $200 million pesos.

During the quarter CASK in pesos increased by 6.4% while CASK in dollars increased 3.5%, reflecting the negative impact of a 6.1% increase in peso denominated fuel prices and a 2.7% depreciation of the Mexican peso against the dollar. CASK excluding fuel in pesos increased by 6.5% while CASK excluding fuel in dollars increased 3.7%.

First quarter EBITDAR reached $2.8 billion pesos. EBITDAR margin was 17.2%.
For the first quarter of 2019, Grupo Aeromexico reported an operating loss of $377 million pesos.

Aeromexico reported a net loss of $1.3 billion pesos for the first quarter 2019.

First quarter cash flow generation was strong with $2.3 billion pesos in incremental cash flow generated from operating activities. Aeromexico┬┤s cash position as of March 31st, 2019 was $8.7 billion pesos. This brings Aeromexico┬┤s cash to last-twelve month revenue ratio to 12.4%.

During the quarter, the Company incorporated one aircraft into its fleet under an operating lease agreement. As of March 31st, 2019 Grupo Aeromexico's operating fleet comprised 127 aircraft.

All figures are expressed in millions of pesos unless otherwise indicated. Grupo Aeromexico's financial statements are prepared in accordance with International Financial Reporting Standards (IFRS).

The International Accounting Standard 1 (IAS 1) "Presentation of Financial Statements" establishes that in the Consolidated Statement of Comprehensive Income additional items, headings and subtotals can be presented when they are relevant to understanding the financial performance of the entity.

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