October 20, 2026 — Aeroméxico grew its third-quarter revenue by 13.6% to US$1.62 billion, but a 58% jump in its fuel bill squeezed profits. The airline plans to grow capacity by 7% to 8% in the fourth quarter.
The numbers
Grupo Aeroméxico released its unaudited results for the quarter ended September 30 on October 19. Fuel was the big story: jet fuel expense rose 57.6% to US$469 million, and the average price paid climbed to US$4.0 a gallon from US$2.5 a year earlier. The airline burned 1.8% less fuel overall.
| Measure (3Q26) | Result |
|---|---|
| Total revenue | US$1,619 million, up 13.6% |
| Operating income | US$189.6 million; 11.7% margin (down from 17.7%) |
| Net income | US$40.6 million; 2.5% margin |
| Passengers | 6.16 million, down 3.2% |
| Capacity (ASMs) | Up 1.3% |
| Fuel expense | US$469 million, up 57.6% |
| Wages, salaries and benefits | US$325 million, up 8.6% |
| Fleet at September 30 | 170 aircraft (136 Aeroméxico, 34 Aeroméxico Connect); average age 9.1 years |
One Boeing 787-9 joined the fleet during the quarter.
Outlook
- Fourth quarter 2026: capacity up 7% to 8%, revenue up 14% to 16%, operating margin 7.5% to 9.5%.
- Full year 2026: capacity up 2% to 3%, revenue up 13.5% to 14.5%, operating margin 8.5% to 9.5%.
- The guidance assumes fuel at about US$4.5 a gallon in the fourth quarter and an exchange rate of 18.0 pesos to the dollar.
Pilot talks still open
The results release does not mention labor talks. As AeroCorner reported on October 1, the pilots’ union ASPA, which represents 1,632 Aeroméxico pilots, agreed on September 29 to extend negotiations by up to 45 days instead of striking on October 1. Mexican outlet La Silla Rota put the new deadline at November 12; the union itself did not give a fixed date (TBA).
What it means for non-revs
- More seats are coming. A 7% to 8% capacity increase in the fourth quarter should put more seats into the system over the holidays. The release does not say which routes get them.
- Passenger numbers fell while capacity rose. In the third quarter Aeroméxico flew 3.2% fewer passengers on 1.3% more capacity, which is a modest plus for open seats.
- Watch mid-November. If the pilot talks fail, the reported November 12 deadline is the date to watch for strike risk. Avoid tight Aeroméxico connections around then until a deal is announced.
- Delta-family travelers: Aeroméxico is Delta’s joint-venture partner. Check your airline’s current partner pass rules before planning.
Sources
- Aeroméxico via GlobeNewswire (The Manila Times) — Aeroméxico Reports Unaudited Third Quarter 2026 Results
- AeroCorner — Aeromexico Pilot Strike Postponed Up to 45 Days (background, October 1, 2026)
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