Grupo Aeromexico S.A.B de C.V Releases Results for the Second Quarter 2012

MEXICO CITY, July 24, 2012 /PRNewswire/ — Grupo Aeromexico, S.A.B de C.V. (BMV: AEROMEX) (Grupo Aeromexico or the Company), the largest intercontinental airline in Mexico, today reported consolidated unaudited results for the second quarter 2012.

Grupo Aeromexico reported its second best April-June quarter despite a 14% increase in peso- denominated fuel prices and a 15.5% year-over-year exchange rate depreciation.

Revenues reached a record high of MXP $9,919 million with 15.2% growth, year-over-year. Total revenues for the first half of the year reached MXP $19,147 million; 15.9% greater than the first half of 2011.

EBITDAR reached MXP $1,789, slightly below that of the second quarter of 2011. EBITDAR margin for the quarter was 18%; the second strongest second quarter in the Company’s history, despite a significant fuel price increase and exchange rate depreciation. The cumulative EBITDAR of the first semester was MXP $3,273 million with a margin of 17.1%.

Quarterly operating profit before non-operating revenues and expenses was MXP $744 million with an operating margin of 7.5%; the second best result for a June quarter in the Company’s history. Operating profit for the first half of the year was MXP $1,196 million with an operating margin of 6.2%.

Net income for the quarter was $153 million with a net margin of 1.5%. This result reflects the negative non-recurrent impact of MXP $175 million resulting from exchange rate depreciation and negative adjustments in the market value of fuel hedging positions during the quarter.

Grupo Aeromexico took delivery of four Embraer 190 aircraft in the second quarter; three using BNDES credit lines and one through an operating lease. In addition, the Company took delivery of its first Embraer 170 and finalized an operating lease for two Boeing 737-800 aircrafts.

Grupo Aeromexico’s cash position at the end of June 2012 was MXP $4,142 million; MXP $533 million greater than that of March 31, 2012. During the quarter, the Company made payments of more than USD $38 million, related to its airplane acquisition program, investments in fixed assets, and more than USD $12 million for the amortization of financial debt not related to aircraft acquisition.

As of June 30, 2012, Stockholders’ equity increased by MXP $1,280 million as compared to the first quarter of 2012.