Grupo Aeromexico, S.A.B. de C.V. (AERO) Company Report

Analyst Earnings Quarterly Reports

Earnings summaries and quarterly performance for Grupo Aeromexico, S.A.B. de C.V..

Q4 2025

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Analyst Coverage

Research analysts who have asked questions during Grupo Aeromexico, S.A.B. de C.V. earnings calls.

Duane Pfennigwerth

Evercore ISI

2 questions for AERO

Also covers: AAL, ALGT, ALK +19 more

Felipe Neves

Citi

2 questions for AERO

Guilherme Mendes

J.P. Morgan Chase & Co.

2 questions for AERO

Also covers: ASR, AZUL, CAAP +5 more

Jens Spiess

Morgan Stanley

2 questions for AERO

Also covers: ASR, CPA, LTM +2 more

Michael Linenberg

Deutsche Bank

2 questions for AERO

Also covers: AAL, ALGT, ALK +13 more

Pablo Monsivais

Barclays

2 questions for AERO

Also covers: ASR, CPA, LTM +3 more

Latest news

Recent press releases and 8-K filings for AERO.

Aeromexico Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook

AERO

Earnings

Guidance Update

Revenue Acceleration/Inflection

For Q4 2025, Aeromexico reported Total Revenue of $1,438 million, a 0.2% year-over-year increase, and Adjusted EBITDAR of $502 million, marking a 12% year-over-year increase with a 35% margin.
The company achieved its second-highest annual financial results on record for Full Year 2025, with Total Revenue reaching $5,361 million and Adjusted EBITDAR at $1,672 million.
Aeromexico projects 1Q 2026 Total Revenue to be between $1.3 billion and $1.33 billion, representing a 10.0% to 12.0% year-over-year increase, and Full Year 2026 Total Revenue between $5.77 billion and $5.88 billion, a 7.5% to 9.5% year-over-year increase.
The FY 2026 guidance also includes an Adjusted EBITDAR Margin of ~28.5% to 30.5% and an Operating Income Margin of ~15.0% to 17.0%, with Adjusted Net Leverage expected to be ~1.6x.

Feb 17, 2026, 1:00 PM

Presentation

Grupo Aeromexico Reports Record Q4 and Full Year 2025 Financial Results

AERO

Earnings

Guidance Update

Revenue Acceleration/Inflection

Grupo Aeromexico reported record financial results for Q4 and full year 2025, achieving a 31% Adjusted EBITDA margin for the full year and 35% for Q4, both company highs. Full year operating income reached $928 million with a 17% margin, marking the second-best annual performance in company history.
Total revenue for full year 2025 was $5.4 billion, representing a 2% increase over 2024 (excluding non-recurring items), while Q4 2025 revenue was $1.4 billion, up 3% year-over-year (excluding non-recurring items). Passenger unit revenue in Q4 2025 increased by 6.2% year-over-year, driven by strong demand across domestic and international regions.
The company demonstrated strong liquidity and capital allocation, reducing financial debt by $156 million over the full year, resulting in an adjusted net debt to EBITDA ratio of 1.8 times. As of December 31, 2025, cash and cash equivalents totaled $1 billion, with total liquidity at $1.2 billion.
For 2026, Aeromexico expects revenue to grow between 7.5%-9.5%, with Adjusted EBITDA margins projected to range from 28.5%-30.5% and operating income margins between 15%-17%. ASM capacity is anticipated to increase by 3%-5% over the full year.
Operationally, Aeromexico transported approximately 25 million passengers in 2025 with a fleet of 165 operating aircraft. The company was recognized by Cirium as the world's most on-time airline for the second consecutive year.

Feb 17, 2026, 1:00 PM

Transcript

Aeroméxico Reports Strong Q4 and Full-Year 2025 Results, Provides Positive 2026 Guidance

AERO

Earnings

Guidance Update

New Projects/Investments

Aeroméxico reported strong Q4 2025 results, with total revenue reaching $1.4 billion (up 3% year-over-year excluding non-recurring items) and a record quarterly Adjusted EBITDA of $502 million with a 35% margin.
For the full year 2025, the company achieved $5.4 billion in total revenue (up 2% over 2024 excluding non-recurring items) and a record-high Adjusted EBITDA margin of 31% on $1.7 billion in Adjusted EBITDA.
The company provided a positive 2026 outlook, expecting revenue growth of 7.5%-9.5% and Adjusted EBITDA margins between 28.5%-30.5% for the full year.
Strategic highlights include premium revenue representing 42% of total revenues in 2025, a 37% loyalty program participation rate, and the launch of new long-haul routes.
Aeroméxico also reduced financial debt by $156 million in 2025, ending the year with an adjusted net debt to EBITDA ratio of 1.8 times, and generated $71 million in extraordinary income from the sale of its TechOps maintenance joint venture.

Feb 17, 2026, 1:00 PM

Transcript

Grupo Aeromexico Reports Record Q4 and Full Year 2025 Results, Provides Strong 2026 Guidance

AERO

Earnings

Guidance Update

Revenue Acceleration/Inflection

Grupo Aeromexico reported strong Q4 2025 results, with total revenue of $1.4 billion and a record adjusted EBITDA of $502 million (35% margin).
For the full year 2025, the company achieved $5.4 billion in total revenue and an adjusted EBITDA of $1.7 billion (31% margin), marking the highest margin on record.
The company transported approximately 25 million passengers in 2025 with a fleet of 165 operating aircraft and was recognized as the world's most on-time airline.
Financial debt was reduced by $156 million in 2025, ending the year with an adjusted net debt to EBITDA ratio of 1.8 times, and $200 million was returned to shareholders.
Grupo Aeromexico provided a positive outlook for 2026, expecting revenue growth of 7.5%-9.5%, adjusted EBITDA margins between 28.5%-30.5%, and an increase in ASM capacity of 3%-5%.

Feb 17, 2026, 1:00 PM

Transcript

Aeroméxico Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Outlook

AERO

Earnings

Guidance Update

Revenue Acceleration/Inflection

Grupo Aeroméxico reported total revenue of $1.4 billion in 4Q25 and $5.4 billion in FY25.
The company achieved record-high Adjusted EBITDAR margins of 35% in 4Q25 and 31% in FY25.
Net income for 4Q25 totaled $165.0 million and for FY25 totaled $351.9 million.
For 1Q26, Aeroméxico expects Total Revenue between $1.30 billion and $1.33 billion and an Adjusted EBITDAR Margin of 26.0% to 28.0%.
Aeroméxico was recognized as the world's most on-time airline for the second consecutive year in 2025.

Feb 17, 2026, 11:01 AM

6-K

Grupo Aeroméxico Reports Q3 2025 Financial Results, Faces JCA Termination, and Completes Global Offering

AERO

Earnings

Legal Proceedings

New Projects/Investments

For the three-month period ended September 30, 2025, Grupo Aeroméxico reported total revenue of $1,424,888 thousand and income of $96,978 thousand, a decrease from $1,489,828 thousand and $195,382 thousand, respectively, in the same period of 2024. For the nine-month period, total revenue was $3,922,592 thousand and income was $186,945 thousand, down from $4,184,699 thousand and $542,045 thousand in the prior year.
The U.S. Department of Transportation (DOT) issued a Final Order on September 15, 2025, terminating the antitrust immunity for the Joint Cooperation Agreement (JCA) with Delta, effective January 1, 2026. Grupo Aeroméxico and Delta are challenging this order.
On August 25, 2025, the company's shareholders approved a 1-to-10 stock split. Subsequently, on November 5, 2025, Grupo Aeroméxico priced a Global Offering of ADSs and common shares, along with a concurrent private placement, generating approximately $178.8 million in gross proceeds from the primary component and private placement.

Dec 5, 2025, 9:29 PM

6-K

Grupo Aeromexico Reports Strong Q3 2025 Results and Provides Q4 and Full Year 2025 Guidance

AERO

Earnings

Guidance Update

Delisting/Listing Issues

Grupo Aeromexico reported Q3 2025 total revenue of $1.4 billion, an adjusted EBITDA margin of 31%, and net income of $97 million.
The company successfully completed its IPO and dual-listing on both the New York Stock Exchange and the Mexican Stock Exchange.
For Q4 2025, the company anticipates total revenue (excluding extraordinary non-recurrent items from Q4 2024) to grow between 1% to 3% year-over-year, with an adjusted EBITDA margin expected to range between 27.5% and 29%.
Full Year 2025 guidance projects an adjusted EBITDA margin within 29% to 30% and an operating income margin between 15% and 16%.
The company maintains a strong financial position with $934 million in cash on hand and a leverage ratio of 1.9 times adjusted net debt to adjusted EBITDA.

Nov 12, 2025, 4:00 PM

Transcript

Grupo Aeromexico Reports Strong Q3 2025 Results and Provides Q4 and Full-Year Guidance

AERO

Earnings

Guidance Update

New Projects/Investments

Grupo Aeromexico reported total revenue of $1.4 billion for Q3 2025, with an adjusted EBITDA margin of 31% and an operating margin of 18%, marking its second-best Third Quarter on record. The company's net income for the quarter was $97 million.
The company successfully completed its IPO and dual-listing on both the New York Stock Exchange and the Mexican Stock Exchange, with Q3 2025 being its first quarterly results call as a public company.
Aeromexico expanded its operating fleet by adding four Boeing 737 MAX aircraft during the quarter, bringing the total to 162 aircraft with an average age of 8.5 years.
For Q4 2025, the company projects total revenue growth of 1% to 3% year-over-year (excluding non-recurrent items from Q4 2024), an adjusted EBITDA margin between 27.5% and 29%, and an operating income margin between 14% and 15.5%.
The company ended Q3 2025 with a robust financial position, reporting $934 million in cash on hand and $1.1 billion in total liquidity, with a leverage ratio (adjusted net debt to adjusted EBITDA) of 1.9 times.