Grupo Aeroméxico (NYSE: AERO) sets record Q2, guides 2026 revenue near $6.1B
Rhea-AI Filing Summary
Grupo Aeroméxico reported unaudited 2Q26 results showing record second‑quarter revenue but sharply lower profitability as fuel costs surged. Total revenue rose 12.6% year over year to $1.48 billion, driven by higher unit revenue, strong international demand and a premium revenue mix of 43% of passenger-related revenue.
Adjusted EBITDAR fell to $264 million with a 17.9% margin, down from 31.2%, as jet‑fuel expense increased 79.9% to $494 million and total cost per ASM rose 28.6%. Operating income declined to $68 million (4.6% margin) and net income swung to a $58 million loss, despite modest capacity growth of 1.9%.
Liquidity remained solid with $1.0 billion of cash and equivalents and total liquidity of $1.2 billion including a revolving credit facility; adjusted net debt was $3.03 billion, implying 1.96x last‑twelve‑month Adjusted EBITDAR. The fleet grew to 169 aircraft with an average age of 8.9 years. Guidance for 3Q, 4Q and full‑year 2026 calls for total revenue of $6.05–$6.12 billion, Adjusted EBITDAR margin of 24.0–26.0% and operating margin of 11.0–13.0%, supported by a more favorable fuel cost environment and healthy demand.
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Filing Explained
The July 13 results show $1,037 million cash and $1.2 billion liquidity, but weaker Q2 operating income and a $57.7 million net loss.
The
The filing reports
The historical results cover completed second-quarter activity, while the third-quarter, fourth-quarter, and full-year figures remain company guidance rather than reported performance. Second-quarter revenue rose to
At quarter-end, total liabilities were
Key Figures
Key Terms
Adjusted EBITDAR financial
Available Seat Mile technical
Cost per ASM excluding fuel (CASM-Ex) financial
Net leverage ratio financial
Load factor technical
Earnings Snapshot
For 3Q26, 4Q26 and FY26, the company guides total capacity growth of ~0.5–1.5%, 6.5–8.0% and 2.0–3.0%, respectively; total FY26 revenue of $6.05–$6.12 billion; Adjusted EBITDAR margin of 24.0–26.0%; and operating margin of 11.0–13.0%, assuming fuel at $3.2 and $3.0 per gallon in 3Q/4Q and MXN/USD exchange rates of 17.5 and 17.6.
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