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Grupo Aeromexico (AERO) investor relations material
Grupo Aeromexico Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong third quarter results, marking the second-best Q3 in company history and the first as a public company following a successful IPO and dual-listing on NYSE and Mexican Stock Exchange.
Maintained industry-leading operational reliability, recognized as the world's most punctual airline, and received a five-star APEX award for the seventh consecutive year.
Expanded fleet with four new Boeing 737 MAX aircraft, bringing the total to 162 with an average age of 8.5 years.
Launched new routes to Europe and upgraded check-in facilities at Mexico City International Airport.
Financial highlights
Total Q3 revenue reached $1.4 billion, stable year-over-year when excluding extraordinary non-recurrent items, but down 4.4% year-over-year on a reported basis.
Adjusted EBITDA/EBITDAR was $442 million (31% margin), and operating income was $253 million (18% margin), both among the highest Q3 results.
Net income for Q3 was $97 million, representing a 7% net margin.
Cash on hand at quarter-end was $934 million, with total liquidity of $1.1 billion (21% of LTM revenue).
Adjusted net debt to adjusted EBITDA/EBITDAR ratio at 1.9x, reflecting strong cash generation.
Outlook and guidance
Q4 revenue expected to grow 1%-3% year-over-year (excluding extraordinary items), with adjusted EBITDA/EBITDAR margin of 27.5%-29% and operating margin of 14%-15.5%.
Full-year 2025 guidance: capacity up to 0.5%, adjusted EBITDA/EBITDAR margin 29%-30%, operating margin 15%-16%.
Q4 passenger revenue projected to increase 3%-5% year-over-year on modest capacity reduction; positive revenue momentum expected into 2026.
Capacity for Q4 expected to be down 3%-1.5% year-over-year.
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