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Aeromexico in 2021

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Let’s look at the financial results of Aeromexico in 2021. The Mexican flag carrier closed last year with a US$40 million net profit (if we exclude Aeromexico’s Chapter 11 expenses), bouncing back to profitability for the first time since 2019. Looking ahead into 2022, Aeromexico’s road seems brighter, although several challenges remain, from domestic competition to international uncertainty and Mexico’s Category 2 status with the FAA. 

Financial results in a nutshell

This is how Aeromexico did in 2021: 

  1. For full-year 2021, Aeromexico

    had an MXN$18.7 billion net loss (US$924 million). That’s a 56% net loss reduction compared to the devastating MXN$42.5 billion net loss in 2020. 

  2. Aeromexico had 16.5 million passengers in 2021, a 20% decrease compared to 2019 levels prior to the COVID-19 pandemic. Domestically, it is now the third-most important carrier, behind Volaris and Viva Aerobus; internationally, it is still the most important Mexican airline, although it feels the breadth of Volaris coming for that top spot. 
  3. The Mexican flag carrier had MXN$45.4 billion in revenue (US$2.2 billion), still 33.9% below pre-pandemic levels. 
  4. In terms of liquidity, Aeromexico closed the year with MXN$20 billion, or about US$966 million. 
  5. Fleet-wise, Aeromexico closed the year with 133 aircraft, a couple of units more than in 2019, prior to the pandemic, and 32 more than in December 2020. Aeromexico has 18 Boeing 787, five B737-700, 36 B737-800, 21 B737 MAX 8, six B737 MAX 9, and 47 Embraer E190. 

Some Aeromexico achievements in 2021 and 2022

Last year was very labor-intensive for Grupo Aeromexico. The carrier faced a Chapter 11 bankruptcy proceeding that, now, is close to an end. On January 28, 2022, Aeromexico received the final approval of its Chapter 11 reorganization. 

Let’s look at the financial results of Aeromexico in 2021. The Mexican flag carrier closed last year with a US$40 million net profit (if we exclude Aeromexico’s Chapter 11 expenses), bouncing back to profitability for the first time since 2019. Looking ahead into 2022, Aeromexico’s road seems brighter, although several challenges remain, from domestic competition to international uncertainty and Mexico’s Category 2 status with the FAA. 

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