Aeromexico Reaches Agreement With Flight Attendant Union That Will Improve Productivity And Drive Growth

MEXICO CITY, June 3, 2013 /PRNewswire/ — Grupo Aeromexico, S.A.B. de C.V. (“Aeromexico”) (BMV: AEROMEX), the largest global airline in Mexico, announced today that its subsidiary, Aerovias de Mexico, S.A. de C.V., has concluded its contractual labor revision process with its flight attendant union, Asociacion Sindical de Sobrecargos de Aviacion de Mexico (“ASSA”).

The agreement with ASSA includes:

A 4.7% salary increase for current flight attendant personnel; in line with annual inflation as of the last twelve months, as well as additional employment benefits and incentive-driven compensation tied to productivity and quality of service.
A new labor contract for future flight attendants with highly competitive cost conditions. This new collective labor contract for future flight attendant hires will be effective as of July 1, 2013, once Aeromexico, ASSA and the Ministry of Labor and Social Welfare have completed the process of establishing details related to clauses within the contract. The new contracts’ economic and productivity-related conditions are equivalent to those within Aeromexico’s previous proposal, as part of the “Collective Dispute of Economic Nature” proceeding.
Andres Conesa , Grupo Aeromexico’s CEO stated, “The agreement we have reached today with our Flight Attendant Union is an important achievement as it relates to the structural changes driving our Company’s future productivity and efficiencies, in conjunction with previous agreements with our other Unions. These important agreements help us achieve consistent levels of productivity, based on national and international standards. The agreements reached today will continue to drive sustainable growth to further strengthen our value proposition.”

Grupo Aeromexico’s Management team would like to recognize our Flight Attendant employees’ cooperation in this negotiation, as well as that of the Union’s Executive Committee which made this agreement possible. We would also like to thank the Mexican Ministry of Communications and Transportation and the Ministry of Labor and Social Welfare for their support and for encouraging a constructive and productive dialogue among all involved parties.