1. AeroMexico saw a 2% decrease in passenger traffic year-over-year. 2. Total capacity decreased by 4%, affecting both international and domestic flights. 3. Load factor improved to 87.5%, indicating better capacity utilization. 4. CEO notes continuous improvement and strong demand in key markets. 5. Market conditions suggest a favorable setup for Q4 2025.
FAQ
Why Neutral?
Despite operational challenges, the load factor improvement indicates better efficiency. Historical data shows airlines often rebound post-declines, but external factors may dampen recovery.
How important is it?
Given recent performance metrics, AERO shows signs of potential recovery but still faces hurdles. Investors may view this cautiously, impacting stock activity.
Why Short Term?
Current trends point towards seasonal fluctuations typical for Q4. Rapid shifts in demand can impact short-term pricing; however, long-term recovery will depend on broader market dynamics.
Aeroméxico Reports November 2025 Traffic Results
MEXICO CITY, Dec. 08, 2025 (GLOBE NEWSWIRE) — Grupo Aeroméxico S.A.B. de C.V. (NYSE: AERO & BMV: AERO) has released its operational results for November 2025, revealing a total of 1.995 million passengers transported. This figure marks a 2.0% decrease year-over-year, highlighting a slight decline in both international and domestic travel.
Passenger Traffic and Capacity Overview
In November 2025, international passenger numbers fell by 1.3%, while domestic passengers saw a 2.3% decrease compared to November 2024. Aeroméxico’s total capacity, measured in available seat miles (ASMs), also reflected a downward trend, falling by 4.0% year-over-year.
- Domestic ASMs: 871 million, a decrease of 2.3%
- International ASMs: 1.900 billion, a decrease of 4.7%
- Total ASMs: 2.771 billion, a decrease of 4.0%
Demand and Load Factor Analysis
Demand for air travel, measured in revenue passenger miles (RPMs), decreased by 1.5% year-over-year. Specifically, international demand fell by 0.8%, while domestic demand experienced a larger decline of 3.0%.
Aeroméxico’s load factor for November 2025 was reported at 87.5%, indicating a 2.3 percentage point increase from the previous year. Notably:
- Domestic Load Factor: 86.1%, down by 0.6 percentage points
- International Load Factor: 88.2%, up by 3.6 percentage points
CEO Comments on Operational Performance
Andrés Conesa, Chief Executive Officer of Aeroméxico, commented on the operational improvements observed in November: “Aeroméxico recorded continued sequential improvement in November, driven by robust demand and sustained operational discipline. Year-to-date, the airline remains recognized as the world’s most punctual carrier in 2025.”
Conesa further emphasized that the reversing trends in load factors during the second half of the year indicate strengthening in key markets, including the U.S., providing a favorable outlook as the year concludes.
Year-to-Date Performance Comparison
For context, the cumulative figures for Aeroméxico up to November 2025 compared with the previous year are as follows:
- Total Passengers (Cumulative to November): 22.408 million, a 3.3% decline from 2024
- Total ASMs: 32.716 billion, a marginal increase of 0.5% year-over-year
- Total RPMs: 28.061 billion, a slight decrease of 0.5%
Understanding Aeroméxico's Metrics
Aeroméxico’s performance metrics include:
- RPMs: Revenue Passenger Miles, indicative of revenue-generating passenger traffic.
- ASMs: Available Seat Miles, a key measure of airline capacity.
- Load Factor: A measure of capacity utilization, expressed as the percentage of available seats filled.
- Passengers: Total number of travelers transported by Aeroméxico.
Looking Ahead
As Aeroméxico moves forward into 2026, the airline faces ongoing operational challenges and opportunities. The company emphasizes that past performance does not guarantee future results and remains subject to various risks and uncertainties that could significantly impact its performance.
About Aeroméxico
Grupo Aeroméxico, S.A.B. de C.V., is a prominent holding company operating in the commercial aviation sector and loyalty programs within Mexico. As a member of SkyTeam and operating primarily from Terminal 2 of Mexico City Airport, Aeroméxico offers extensive connectivity across numerous global destinations.