Mexico City — Grupo Aeroméxico S.A.B. de C.V. (NYSE & BMV: AERO) (“Aeroméxico” or the “Company”) reported unaudited financial results for the three months ended September 30, 2025 (3Q25). The Company has used the U.S. dollar, its functional currency, as the presentation currency for these consolidated financial statements. All figures are expressed in millions of U.S. dollars unless otherwise indicated.
Andrés Conesa, Chief Executive Officer stated: “In the third quarter of 2025, we once again delivered outstanding results. Aeroméxico maintained its position as the world’s most punctual airline through October, and our differentiated service was recognized with the Five Star Global Airline APEX Award for the seventh consecutive year. Financially, this was the second-best third quarter in our history, with an Adjusted EBITDAR margin among the highest in the global industry. We acted decisively to sustain bestin-class profitability and operational excellence throughout this peak travel season. The unwavering commitment, discipline, and professionalism of our team continue to drive Aeroméxico’s strong performance and leadership”.
OPERATING & FINANCIAL HIGHLIGHTS 3Q25
- Aeroméxico’s capacity, measured in available seat miles (ASMs), decreased by 0.7% year-overyear in 3Q25.
- Aeroméxico’s 3Q25 total revenue reached $1.4 billion, a 4.4% decrease as compared to the same
period of 2024. When excluding extraordinary, non-recurrent items recorded in 2024, total
revenue remained stable year-over-year.
(1) - Adjusted EBITDAR totaled $441.6 million, with a 31.0% margin. These results represent the
second-highest EBITDAR recorded for a third quarter in the Company’s history. - Third quarter 2025 Operating Income totaled $252.8 million, with a margin of 17.7%, also marking
the second-best operating income performance for a third quarter on record. - Cost per ASM excluding fuel (CASM-Ex), was 9.5¢, marking a 6.1% increase with respect to
the same quarter of 2024. - Total adjusted net debt to EBITDAR ended the quarter at 1.9x.
(1) These are non-IFRS measures and have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of the Company’s
results as reported under IFRS. See Annex A for the definition of Aeroméxico’s non-IFRS measures and a reconciliation to the nearest IFRS measure.
SUBSEQUENT EVENTS
- On November 6, 2025, Aeroméxico began trading its ADS on the New York Stock Exchange (NYSE) and its common shares on the Mexican Stock Exchange (Bolsa Mexicana de Valores or BMV) following the successful completion of its dual listing IPO the United States and Mexico.
4Q25 & FULL YEAR 2025 OUTLOOK
MACRO CONDITIONS
- Economic activity. The Mexican economy observed weakness in the third quarter of the year. On a year over year basis, the Global Economic Activity Indicator decreased by 1.2% in July 2025 with respect to the same month of the previous year.
- Exchange rate. In the third quarter, the Mexican peso remained relatively stable against the U.S. dollar. The average Mexican peso per dollar exchange rate went from $18.87 pesos per dollar in 3Q24 to $18.67 pesos per dollar in 3Q25, a 1.0% appreciation. The quarter-end exchange rate appreciated 6.4%, closing at $18.38 pesos per dollar as compared to $19.63 pesos per dollar at
the end of 3Q24. - Fuel price. In 3Q25, fuel cost per liter in dollars decreased by 3.7%, from an average of 68¢ per liter in 3Q24 to an average of 66¢ per liter in 3Q25.
- Inflation. Annual inflation as of August 2025 was 3.6%, down 1.4 percentage points (p.p.) from 2024 according to Banxico
