Grupo Aeromexico (AERO) Registration Filing summary

Company overview and business model

• Only full service carrier (FSC) based in Mexico, offering premium services and long-haul, wide-body international flights from a leading hub at Mexico City International Airport (MEX).

• Operates a young, modern fleet of 158 aircraft, with a focus on upgauging to larger, more efficient planes to drive profitability and reduce costs.

• Maintains a hub-and-spoke network serving all major Mexican cities and 52 international destinations across 22 countries.

• Strategic partnerships include a joint cooperation agreement (JCA) with Delta Air Lines and membership in the SkyTeam alliance.

• Operates Mexico’s largest airline loyalty program, Aeroméxico Rewards, with 13.3 million members as of June 2025.

Financial performance and metrics

• 2024 revenue reached a record $5.62 billion, up 14.3% from 2023, with operating income margin at 19%.

• For the six months ended June 30, 2025, revenue was $2.50 billion, down 7.3% year-over-year due to peso depreciation, but operating margin remained strong at 17.7%.

• Adjusted EBITDA for 2024 was $1.72 billion; cash and cash equivalents as of June 30, 2025, were $922 million.

• Total assets as of June 30, 2025, were $6.82 billion; total liabilities were $7.63 billion; equity deficit of $807 million.

• Net income for 2024 was $617 million; basic earnings per share for 2024 were $4.62.

Use of proceeds and capital allocation

• All proceeds from the IPO will go to selling shareholders; the company will not receive any proceeds.

• Estimated offering expenses to be borne by the company are approximately $ million.