Grupo Aeromexico's Cargo Volume Declines 2.9 Percent

Grupo Aeromexico reported its net income in the fourth quarter of 2012 was MXN$612 million (about US$48.0 million), jumping 108 percent from $23.1 million in the fourth quarter of 2011.

Quarterly revenue was $776.3 million, rising 1.7 percent year-over-year. Adjusted fourth quarter cargo revenue fell 2.9 percent compared with the fourth quarter of 2011, reflecting an 11 percent decline in tons transported in both domestic and international markets.

For the full year of 2012, net income was $103.8 million, falling 25 percent from $138.8 million. Annual revenue was $3.1 billion, rising 10.5 percent year-over-year, driven primarily by increased yields, higher passenger flows and an increase in cargo revenue. Adjusted cargo revenue in 2012 increased 7.4 percent compared with 2011.