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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 high operational reliability, strong margins, and a solid balance sheet, with continued recognition for service excellence and punctuality, including the Five Star Global Airline APEX Award for the seventh consecutive year.
Expanded fleet with four new Boeing 737 MAX aircraft, bringing the total to 162 and supporting network growth, especially in Europe.
Financial highlights
Total Q3 revenue reached $1.4 billion, with an adjusted EBITDA/EBITDAR margin of 31% and operating margin of 17.7%-18%.
Adjusted EBITDA/EBITDAR was $442 million, the second-highest Q3 on record; net income was $97 million, representing a 6.8%-7% net margin.
Excluding extraordinary non-recurrent items from 2024, adjusted EBITDA/EBITDAR increased 1.4% year-over-year; total revenue per ASM rose 0.6% year-over-year.
Operating expenses increased 2.5% year-over-year, mainly due to fleet additions, labor cost increases, and expanded international operations.
Cash on hand at quarter-end was $934 million, with total liquidity of $1.1 billion (21% of LTM revenue).
Outlook and guidance
Q4 passenger revenue expected to increase 3%-5% year-over-year on modest capacity reduction; positive unit revenue trends anticipated domestically and internationally.
Q4 total revenue (excluding extraordinary items) projected to grow 1%-3% year-over-year; adjusted EBITDA/EBITDAR margin expected between 27.5%-29%, operating margin 14%-15.5%.
Full-year 2025 capacity to increase up to 0.5%, with adjusted EBITDA/EBITDAR margin of 29%-30% and operating margin of 15%-16%.
2026 growth opportunities supported by recent aircraft deliveries and operational leverage.
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