AEROMEXICO REPORTS 1Q22 RESULTS

MEXICO CITY, April 28, 2022 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), today reported its unaudited consolidated results for the first quarter 2022.

KEY FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2022

• On June 30^th, 2020 Aeromexico announced that it and certain of its affiliates filed voluntary Chapter 11 petitions in the United States ("Chapter 11","C11") to implement a financial restructuring.
• On March 17, 2022. Grupo Aeroméxico, informed that the resolutions adopted by the Shareholders Meetings of the Company held on January 14 and February 14, 2022 became effective. As a result, Aeroméxico consummated its Plan of Reorganization ("Plan"); and it successfully concluded its financial restructuring process and emerged from its Chapter 11. As set forth in the Plan, the equity value of the reorganized Company ("Plan Equity Value") is approximately US$2.564 billion dollars.
• Grupo Aeromexico's first quarter capacity, measured in available seat kilometers (ASKs), increased by 40% compared to first quarter 2021, primarily driven by the sequential recovery in domestic and international markets.
• Grupo Aeromexico's first quarter 2022 revenue reached $12.9 billion pesos; an 88.4% increase compared to same period 2021. During the quarter, revenue per ASK (RASK) reached $1.296 pesos, a 34.5% increase year over year.
• During the quarter Aeromexico recognized net restructuring benefits of $1.6 billion pesos related to the ending of its C11 exit process and non-recurring items. The restructuring benefits mainly included the valuation of general unsecured claims liability at its fair value, previously recognized at its amortized cost, for balances incurred before Chapter 11 restructuring process.
• EBITDAR amounted to $2.9 billion pesos, an improvement of $3.4 billion pesos year over year.
• First quarter 2022 operating profit reached negative $763.4 million pesos; an improvement of $2.7 billion pesos compared to first quarter 2021.
• Cost per ASK (CASK), excluding fuel and restructuring items, was $0.049 dollars, a 6.2% decrease year over year. This reflects the Company's structural cost efficiency achievements.
• Aeromexico's cash position as of March 31^st, 2022, amounted to $28.0 billion pesos, equivalent to approximately $1,4 billion dollars. Excluding restricted cash, and outstanding claims, Aeromexico's cash balance amounted to $24.6 billion pesos, equivalent to $1.2 billion dollars.
• During the quarter, the Company executed diverse settlement payments in accordance with the Chapter 11 Exit Plan effectiveness for $7.9 billion pesos
• As of March 31^st, 2022, Aeromexico's operating fleet comprised 134 aircraft, a 26% increase year over year.

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