BANK OF AMERICA MERRILL LYNCH 2013 GLOBAL TRANSPORTATION CONFERENCE. Aeromexico Presentation, May 2013
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1 BANK OF AMERICA MERRILL LYNCH 2013 GLOBAL TRANSPORTATION CONFERENCE Aeromexico Presentation, May 2013
2 Table of Contents I. Leading Airline in Mexico II. III. The Right Business Model Opportunities
3 Leading Airline in Mexico 14.8 million Annual Passengers 36.5% Domestic market share* 14.5% International market share* +75 Destinations in 18 countries Only Latin American Carrier with flights to ASIA SkyTeam Founding member Delta Airlines Enhanced alliance 115 Aircrafts 5 cabin type fleet +3 million Frequent flyer members ~600 Daily flights Largest Holder of slots at Mexico City Note: (*) Information for the LTM March 2013 Source: DGAC Scheduled Passengers for the LTM March
4 Leading market position Highest market share in the domestic market and leading position in the international market Domestic Market Share International Market Share 12.5% 5.9% 5.4% 16.3% Other 32.0% 2.4% 4.8% 6.1% 14.5% Note: Information for the LTM March 2013 Source: DGAC Scheduled Passengers for the LTM
5 With the Right Business Model Network & Alliances New domestic and international destinations with additional frequencies in key markets Increase connectivity through hubs World Class Alliances Consolidate strategic partnership with Delta Improved Service & Productivity Loyalty program (partnership with AIMIA) Business passenger focus Implementation of Net Promoter Score Improving network infrastructure with new facilities in Mexico City MRO Joint Venture with Delta TechOps Human Capital & Technology Comprehensive Financial and Risk Management Experienced management team Continuing developing IT Fuel Fleet Flexibility Interest Rate FX...to Maintain Aeromexico s Position as Mexico s Premium Revenue Carrier 5
6 World Class Partners Fleet Co-branded credit cards Frequent flyer program Strategic partners in the US and internationally IT systems - Sales 6
7 Strategic Commercial Partnership with Delta Key initiatives Enhanced codeshare Co-location Efforts Code-Share on all transborders Expanded interior points & Third country beyonds More than 70 destinations in Mexico and Latinamerica More than 330 World wide destinations. Joint Sales Efforts with target on Multiple Channels Co-location in Miami and Mexico City and handling Aeromexico in Atlanta and London Currently working with SkyTeam to identify opportunities to connect DL/AM co-location to SkyTeam Hub Excellence initiative Marketing Efforts Continued focus on speed to market and expanding scope of joint programs Agency bridge agreements (US PoS) launched Transborder Upgrades Joint marking initiatives in USA and Mexico Featured partnership in SKY, Clase Premier and Escala inflight magazines Press releases in 1H12; developed bi-weekly message plan for 2H12 MRO Upcoming new benefits to high value customers such as complementary reciprocal upgrades Delta Awards on clubpremier.com Preferred Security Lines: Sky Priority Initiative Construction of a joint-operated MRO facility in Querétaro High quality & productivity standards Own and third party services Reduced maintenance cost 7 7
8 Improved Passenger Service Premium Revenue Services NPS Implementation Loyalty Program + Business Lounges Net Promoter Score Levers Mobile Services 1 2 Quality improvement on Delay & Cancellation management Standardization of flight attendants high levels of service Business Class 3 4 Score improvement from -Fleet -Network -Club Premier Price perception improvement 8
9 Comprehensive Financial and Risk Management Policy Fuel FX Hedging Strategy Currency Exposure Over 50% of expected fuel consumption for the next 12 months is hedged Fuel surcharges complement Grupo Aeromexico s hedging strategy 53% Revenues in US dollars 65% Costs in US dollars Reduced exposure Interest Rate Fleet Flexibility Financial Debt as of March 2013 Homogeneous and modern fleet Staggered leasing contracts Fixed Rate 91.3% Capacity adjustment ability in case of an economic slowdown Aircraft Acquisition Working Capital 9
10 Fleet Plan Flexibility The fleet plan provides flexibility to adjust to market conditions Numero de Aircrafts Aviones Contractual Contractual con with renovación lease renewal de arrendamientos Flexibilidad Fleet plan en Plan flexibility de Flota Contractual Año Year 10
11 Fleet Management The balance between owned and leased fleet will continue to improve Owned vs Leased Aircrafts(1) Aeromexico Fleet Plan Leased 76% Owned 24% Fleet E B B B B AEROMEXICO Leased Aircraft Leasing cost equivalent to 1% / month ~12% annual E E 170/ E CONNECT Owned Aircraft Financial interest rate of 3.5% Depreciation equivalent to 3.3% ~6.8% annual TOTAL Seat Growth 2013 vs % The medium term target is to increase the % of owned aircrafts up to 50% (1) March 2013 As a % of the fleet value 11
12 Fuel cost per seat Continued Medium and Long-Term Productivity Our fleet renewal efforts will ensure continued CASK reductions and higher operating margins while maintaining efficiency and flexibility Short & Medium Term Long Term (2018) Estimated CASK Reduction Estimated Fuel Burn Reduction ERJ145 E170 & E190 B737-7 B737-8 B767 B787 10% 5% 0% Current fleet -5% -10% -15% Renewed fleet -20% -15% -10% -5% 0% 5% 10% Fuel cost per trip Note: B767-2 and B787 data for: MexMad. B737-7 and B737-8 / ERJ145, ERJ190 and ERJ170 data for MexMty 12
13 Strengthening Financials As a result of our business model EBITDAR Margin CASK Ex Fuel (USD cts)(1) Adjusted Net Debt / EBITDAR Equity (USD million) x x (1) 2012 CASK ExFuel includes AM Cargo by equity method 13
14 Opportunities Several initiatives are currently under way to continue strengthening Grupo Aeromexico FINANCIAL COMMERCIAL BS, P&L Strengthening Our fleet strategy will allow us to continue improving our unit cost, as more efficient aircrafts are introduced into our fleet O-D Commercial Strategy: Market segmentation based on customer purchasing patterns Ad-hoc pricing by segment and niche Specific products per market niche PRODUCTIVITY AM-DL STRATEGIC PARTNERSHIP Medium & Long term fleet plan New labor contracts New ERP platform: centralize support functions under a shared services center to produce more efficient back office processes Important synergies from co-location efforts in key airports Cost efficiencies from MRO Joint Venture Our highly competitive labor becomes more productive when combined with streamlined processes from DL 14
15 Opportunities in the Mexican Market The Mexican economy has a favorable near-term outlook, with 3.4% GDP growth expected in 2013 GDP Growth (YoY) (1) Growth Rates (2) EuroArea Japan Latin America Aeromexico s business model positions the Company to Capture Growth Sources: (1) IMF World Economic Outlook April 2013, (2) Boeing Current Market Outlook
16 Investment Highlights Leading airline in Mexico with increasing international presence Focused on the business passenger Continuously expanding its network and alliances Pursuing further opportunities in revenues and costs Positive outlook for Mexico Right business model positions Aeromexico to capture opportunities 16
17 Disclaimer This presentation is neither an offer for sale nor a request to buy any securities. Such offer or request may only be made through an offering memorandum containing the description of the terms and conditions of such offer and shall include detailed information of the company and its management, as well as the financial statements of Grupo Aeromexico, S.A. de C.V. ( Grupo Aeromexico ), in terms of the Securities Market Law (Ley del Mercado de Valores) ( LMV ) and the General provisions applicable to securities issuers and other securities market participants (Disposiciones de carácter general aplicables a las emisoras de valores y a otros participantes del mercado de valores) (the Provisions ). The information contained herein is confidential and shall not be reproduced in whole or in part or shared with third parties without the previous consent of Grupo Aeromexico. This presentation contains information obtained from diverse sources and, despite it contains truthful information, no representation is hereby made by Grupo Aeromexico as to the accuracy, integrity and sufficiency of such information. Additionally, Grupo Aeromexico makes no representation in respect of the sufficiency or truthfulness of the assumptions, estimations, projections, hypothetical behavior analysis or in respect of other financial information included in the results of the financial models contained or used herein. The results contained herein may substantially vary. Nothing herein shall be understood or construed as a representation or warranty as to future performance of the securities referred to herein. The information included in this presentation has not been audited and it does not provide information on the company s future performance. Aeromexico s future performance depends on many factors and it cannot be inferred that any period s performance or its comparison year-overyear will be an indicator of a similar performance in the future. Aeromexico Contacts Luz Montemayor Investor Relations lmontemayor@aeromexico.com.mx Tel. (52) (55) investor.relations@aeromexico.com.mx Carlos Doormann SVP Financial Analysis cdoormann@aeromexico.com.mx 17
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