$AERO

Grupo Aeromexico, S.A.B. de C.V.

CIK:0001561861|SEC Filings

Consolidated Statements Of Profit Or Loss And Other Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Passenger	$ 4,860,479	$ 5,150,889	$ 4,504,157
Air cargo	312,399	296,102	269,948
Other	187,692	172,863	141,992
Total revenue	5,360,570	5,619,854	4,916,097
Operating expenses:
Jet-fuel	1,137,645	1,236,639	1,310,242
Wages, salaries and benefits	1,148,113	1,084,146	896,128
Maintenance	231,472	258,155	232,246
Aircraft, communication and traffic services	614,524	590,967	532,068
Passenger services	150,709	140,834	113,576
Travel agent commissions	96,935	122,147	111,954
Selling and administrative	359,307	406,344	357,551
Aircraft leasing	17,708	16,236	23,779
Depreciation and amortization	730,289	655,057	579,780
Impairment (reversal)	(3,700)		3,427
Other loss, net	26,647	48,498	36,467
Share of (gain) loss on equity accounted investees, net of tax	(77,188)	(5,858)	3,061
Total operating expenses	4,432,461	4,553,165	4,200,279
Total operating income	928,109	1,066,689	715,818
Finance income (cost)
Finance income	31,637	77,901	70,833
Finance cost	(545,792)	(447,373)	(498,972)
Net finance cost	(514,155)	(369,472)	(428,139)
Income before income tax	413,954	697,217	287,679
Income tax expense	62,093	79,731	14,311
Income for the year	351,861	617,486	273,368
Items that will not be reclassified to profit or loss
Remeasurement of defined benefit liability	(17,526)	5,755	(4,858)
Income taxes	5,601	(1,699)	1,607
Items that are or may be reclassified to profit or loss
Employee benefits remeasurement due to personnel transfers	(1,255)	(95)	(1,100)
Other comprehensive income (loss) for the year, net of income taxes	(13,180)	3,961	(4,351)
Total comprehensive income for the year	338,681	621,447	269,017
Income attributable to:
Owners of the Company	351,861	617,439	273,334
Non-controlling interest		47	34
Income for the year	351,861	617,486	273,368
Total comprehensive income attributable to:
Owners of the Company	338,681	621,400	268,983
Non-controlling interest		47	34
Total comprehensive income for the year	$ 338,681	$ 621,447	$ 269,017
Earnings per share from continuing operations
Basic income per share (US dollars)	$ 0.24	$ 0.46	$ 0.21
Diluted income per share (US dollars)	$ 0.24	$ 0.45	$ 0.2

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Income for the year	$ 351,861	$ 617,486	$ 273,368
Adjustments for:
Income tax expense	62,093	79,731	14,311
Depreciation and amortization	730,289	655,057	579,780
Impairment (reversal)	(3,700)		3,427
Equity-settled share-based payment transactions	689	17,660
Share of (gain) loss on equity accounted investees, net of tax	(77,188)	(5,858)	3,061
Loss on sale property and equipment	2,834	4,108	5,067
Provisions, net	109,955	192,546	127,888
Derivative financial loss		334	1,758
Employee benefits	18,688	20,102	17,167
Inventory adjustments to net realizable value	21	28	18
Allowance for doubtful accounts	2,321	9,774	4,180
Interest expense, net	300,078	241,416	214,379
Unrealized exchange (gain) loss	(36,394)	3,708	(12,528)
Employees' statutory profit sharing	25,083	41,897	16,425
Adjustments for Cash flows from operating activities	1,486,630	1,877,989	1,248,301
Trade and other receivables	41,173	(42,395)	(106,394)
Due from related parties	452	(1,937)	(933)
Inventories	(33,050)	(33,422)	(9,931)
Prepayments and deposits	(2,025)	(30,804)	2,147
Trade and other payables	(142,541)	5,132	312,968
Due to related parties	317	366	302
Air traffic liability	(111,338)	(219,237)	57,636
Frequent flyer program	44,391	72,894	69,464
Interest received	31,637	55,465	64,180
Cash generated from operating activities	1,315,646	1,684,051	1,637,740
Income tax paid	(74,490)	(36,838)	(16,281)
Interest paid	(328,075)	(279,700)	(276,342)
Net cash from operating activities	913,081	1,367,513	1,345,117
Cash flows from investing activities
Acquisition of properties and equipment (including major maintenance)	(334,496)	(422,837)	(333,208)
Proceeds from sale of properties and equipment	33,552	2,796	159
Dividends from equity accounted investees	9,414	6,853
Capital stock reimbursement from equity accounted investees	13,698	9,147
Proceeds from sale of shares in joint venture	58,954
Due to related parties		(14,000)	14,000
Intangible assets additions	(41,262)	(29,078)	(33,237)
Prepayments and deposits for maintenance and acquisition of properties and equipment	(10,312)	(41,886)	(53,921)
Net cash used in investing activities	(270,452)	(489,005)	(406,207)
Cash flows from financing activities
Contingent consideration payment		(24,059)
Proceeds from capital stock issuance, net of costs of transaction	165,591		4,057
Cash paid for capital stock	(204,636)	(818,544)	(275,167)
Proceeds from loans	64,603	1,110,000
Repayments of loans	(156,182)	(840,914)	(335,865)
Payments of lease liabilities	(365,602)	(346,539)	(302,859)
Net cash used in financing activities	(496,226)	(920,056)	(909,834)
Increase (decrease) in cash and cash equivalents	146,403	(41,548)	29,076
Effect of exchange rate fluctuations on cash held	35,845	(54,153)	66,440
Net increase (decrease) in cash and cash equivalents	182,248	(95,701)	95,516
At beginning of year	841,997	937,698	842,182
At end of year	$ 1,024,245	$ 841,997	$ 937,698

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,024,245	$ 841,997	$ 937,698
Derivative financial instruments			334
Trade and other receivables	699,945	591,475	618,212
Due from related parties	2,630	3,083	1,146
Prepayments and deposits	78,422	70,363	48,721
Inventories	174,354	139,721	108,458
Total current assets	1,979,596	1,646,639	1,714,569
Non-current assets:
Property and equipment, including right-of-use	3,674,046	3,206,558	2,787,595
Intangible assets and goodwill	1,098,159	1,080,354	1,071,824
Prepayments and deposits	150,065	160,471	148,929
Investments in equity accounted investees	0	16,978	27,120
Other non–current assets	11,193	10,841	6,705
Deferred tax assets	280,032	261,724	335,020
Total non-current assets	5,213,495	4,736,926	4,377,193
Total assets	7,193,091	6,383,565	6,091,762
Current liabilities:
Loans and borrowings, including leases	450,535	448,297	523,159
Trade and other payables	1,710,939	1,652,235	1,533,586
Due to related parties	1,103	786	14,420
Provisions	56,623	117,167	85,850
Air Traffic Liability	505,858	617,196	836,433
Current Frequent Flyer Program	288,680	287,972	247,226
Income taxes payable and employee's statutory profit sharing	82,200	69,530	28,751
Total current liabilities	3,095,938	3,193,183	3,269,425
Non-current liabilities:
Loans and borrowings, including leases	3,604,492	3,252,616	2,711,147
Frequent flyer program	344,078	300,395	268,247
Provisions	331,652	207,093	218,890
Employee benefits	274,050	209,098	235,841
Deferred tax liabilities	135,097	121,094	121,137
Total non-current liabilities	4,689,369	4,090,296	3,555,262
Total liabilities	7,785,307	7,283,479	6,824,687
Equity (deficit)
Capital stock	3,504,114	3,526,022	4,326,906
Share premium	(2,182,889)	(2,182,889)	(2,182,889)
Statutory reserve	24,750	24,750	24,750
Stock repurchase reserve	29,703	29,703	29,703
Equity accounted investees share of OCI	(6,577)	(6,577)	(6,577)
Remeasurement of defined benefit liability	5,231	17,156	13,100
Accumulated deficit	(1,968,598)	(2,310,129)	(2,939,921)
Total equity (deficit) attributable to equity holders of the Company	(594,266)	(901,964)	(734,928)
Non-controlling interest	2,050	2,050	2,003
Total equity (deficit)	(592,216)	(899,914)	(732,925)
Total equity (deficit) and liabilities	$ 7,193,091	$ 6,383,565	$ 6,091,762