Aeromexico Posts Quarterly Loss, Hit Deeper by Coroanvirus Shutdowns

Mexican airline Aeromexico, which is undergoing a chapter 11 restructuring process, on Tuesday posted a loss in the fourth quarter of last year, taking yet another hit from the coronavirus pandemic’s drain on global tourism, Reuters reported. The company reported a net loss of 9.72 billion pesos ($487 million) in the October to December period, with passenger capacity down nearly 48% from the same quarter a year earlier. It also reported losses in the first three quarters of 2020, including a slimmer loss of $130 million in the prior period. Still, Aeromexico said it transported 56% more people than in the third quarter, with 2.9 million passengers. Read more.