Aeromexico announces Q2 losses

Grupo Aeroméxico has reported a net loss of MXP89 million ($6.9 million) during the second quarter, down from a net profit of MXP322 million in the Q2 2013. Grupo Aeroméxico’s second-quarter revenue increased 9% year-over-year to MXP10.36bn, but expenses grew at nearly double the rate of revenue, rising 16% to MXP10.15bn. Second-quarter operating profit decreased 73% compared with the 2013 June quarter to MXP202 million and operating margin dropped 5.9 points from 7.9% in the prior-year period to just 2% in the 2014 second quarter. Second-quarter traffic rose 21.6% year-over-year to 7.03bn RPKs on a 17% increase in capacity to