Mexicana earns approximately 927 pesos for each passenger it transports, but it costs more than 4,484 pesos to transport each traveler who decides to fly with the company.
Mexicana, the Mexican State Airline (AEM) has recorded losses of more than 932 million pesos in the first three quarters of operation, according to the company’s financial reports consulted by El Financiero.
The airline in charge of the Defense needed 1,175 million pesos for its operation between January and October, a figure that is more than five times what is recorded as income from the sale of goods and services in the notes to the financial statements.
The airline’s costs include advance payments to TAR, the company that rents a couple of aircraft, as well as other guarantee payments made by the company, including one for just over 100 million pesos in favor of SAT Aero Holdings, a firm that is suing the state-owned company in court in the United States.
The new Mexican military company has had revenues, in the first three quarters of this year, of 243 million pesos, a figure that barely allows it to cover 20 percent of its operating expenses, which includes payment for jet fuel, salaries to personnel, among other items.
In this way, Mexicana earns around 927 pesos for each passenger it transports, but it costs more than 4,484 pesos to transport each traveler who decides to fly with the company.
The airline’s high operating costs are related to the rental of equipment from another company, which also supplies it with personnel to service a series of flights to at least 9 destinations, as well as low occupancy levels, which do not exceed 60 percent when the average in the airline industry in Mexico exceeds 85 percent.
Source: El Financiero
