ENHANCING VALUE. Ricardo Sánchez Baker, CFO
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1 ENHANCING VALUE Ricardo Sánchez Baker, CFO 1 1
2 TABLE OF CONTENTS AEROMEXICO AT GLANCE ECONOMIC ENVIRONMENT RECOVERING POSITIVE MOMENTUM BUILDING FOR THE FUTURE: ENHACING VALUE
3 AEROMEXICO: MEXICO S PREMIUM REVENUE CARRIER Leading airline in Mexico Presence on three continents and 18 countries More than 15.3 million passengers transported in 2013 Only Latin American carrier with flights to Asia Strong slot position at Mexico City Airport Enhanced alliance with +3.5 million frequent flyer members Founding member of 3 3
4 CHALLENGING ECONOMIC ENVIRONMENT STARTING 4Q GDP Growth Forecast (1) Monthly YoY (%) Global Index of Economic Activity (2) Monthly YoY (%) Mean Median Interquartile range 1.5 J F M A M J J A S O N D J F M A M J J A (1) BANXICO, Private Sector Economy Specialists Expectations Survey, August 2013 (2) INEGI, Economic Activity Global Index, June
5 RECOVERING POSITIVE MOMENTUM THROUGH OPERATIONAL EXCELLENCE Strengthening Key Passenger-Oriented Operational Drivers On time performance 15 min (%) Mishandled Baggage Complaints Completion Factor 85.2% 90.6% 92.4% 79.2% 81.4% % Q12 2Q12 3Q12 4Q12 1Q13 2Q
6 RECOVERING POSITIVE MOMENTUM THROUGH TRAFFIC AND LOAD FACTOR Passenger Traffic Monthly YoY Load Factor (%) Monthly YoY
7 RECOVERING POSITIVE MOMENTUM THROUGH STRICT COST CONTROL CASK Ex Fuel (mxn) (1) CASK Ex Fuel (mxn) -14.1% -2.8% Source: Aeromexico Quarterly Financial Statements (1) 2009 CASK expressed in 1H13 pesos 7
8 RECOVERING POSITIVE MOMENTUM: MARGIN EXPANSION EBITDAR Margin Operating Margin +1.4pp +1.3pp 14 consecutive quarters with positive operating results Source: Aeromexico Quarterly Financial Statements 2Q12 (Proforma) and 2Q13 as presented retroactively under equity accounting method for the aircraft maintenance and loyalty programs subsidiaries for comparison purposes 8
9 RECOVERING POSITIVE MOMENTUM: STRONG BALANCE SHEET Net Adj Financial Debt / EBITDAR Debt Composition % 60% 40% 91% 91% Working Capital Aircraft Acquisition 9
10 BUILDING FOR THE FUTURE WITH OUR FLIGHT PLAN COMMERCIAL NETWORK Connectivity and Alliances Revenue Management and Ancillaries Wide Body Strategy AM Contigo OPERATIONS AND PRODUCT IT Investments & Infrastructure NPS Enhancing Customer Loyalty PRODUCTIVITY & RISK MGMT STRATEGIC PARTNERSHIPS Fleet Strategy Productivity and Efficiencies Labor Efficiencies and Costs Risk Management 10
11 BUILDING FOR THE FUTURE: COMMERCIAL STRATEGY Connectivity Revenue Management and Ancillaries AM Contigo Increase Connectivity Leverage Growth in Mexico City Hub Partnership with Delta Focus on PRASK Promote AM.com Increase ancillaries share in total revenues and develop new products Increase presence in domestic and VFR markets 11
12 BUILDING FOR THE FUTURE: OPERATIONS & PRODUCT Service Excellence Operational Excellence Best practices, Continuous benchmarking, process re-engineering Generating customer preference Customer feedback used for continuous improvement NPS Scores calculated per business areas and shared on an employee level Leveraging fleet and product investments Maintain momentum in ops performance Enhanced coordination, integration and hub connectivity Tech investments and State of the Art Facilities 12 12
13 BUILDING FOR THE FUTURE: PRODUCTIVITY Strong pipeline of cost reduction initiatives Operational & Administrative Processes CCO Restructuring and Integration and AM/AM Connect Engineering ERP Operations Integrations in Guadalajara TI Collocation in International Airports Increase fleet utilization Labor Costs New contracts with pilots, flight attendants and ground staff Fleet Strategy Fleet Renewal Balance between Owned and Leased Aircrafts Unique Fleet Plan Flexibility 13
14 FUTURE VALUE THROUGH COST SAVINGS: FLEET STRATEGY Renewal Efforts will ensure CASK reductions Estimated CASK Reduction (1) Reduced Ownership Cost Annual Cost of Financing 10%-12% 4% to 6% ERJ145 E170 & E190 B737-7 B737-8 B767 B787 6% Fleet Value Owned: (27%) USD 689M Leased: (73%) USD 1.9 Billion Fleet Value: USD 2.6 billion (2) USD M cost savings due to ownership (1) B767-2 and B787 data for: MexMad. (1) B737-7 and B737-8 / ERJ145, ERJ190 and ERJ170 data for MexMty (2) August Source : Avitas Bluebook 1 st Half 2013 Medium term Target: 50% Owned 14
15 FUTURE VALUE THROUGH COST SAVINGS: FLEET STRATEGY More Efficient aircraft mix Today 2018 Fleet plan flexibility E-145 E-170 / E-170/ s 737 s NG/MAX 767 s 787 s 777 s 787 s New technology: Additional efficiencies in fuel consumption and CASK of 12%- 20% vs current aircraft fleet 15
16 COMPREHENSIVE RISK MANAGEMENT Fuel Hedging Strategy Over 50% of expected fuel consumption for the next 12 months is hedged Fuel surcharges complement Grupo Aeromexico s hedging strategy Interest Rate 39% 39% Fixed Rate 39% Variable rate Fixed Rate 61% 61% Fixed rate FX Staggered lease agreements (expirations) 55% Revenues in US dollars 65% Costs in US dollars Reduced exposure Aircraft Total 16
17 ENHANCING VALUE THROUGH OUR STRATEGIC PARTNERSHIPS Owns 4.2% of Aeromexico s outstanding shares Joint efforts in sales, marketing and customer experience Transborder upgrades Co-location Efforts JV-MRO facility in Queretaro Loyalty Program Strategic Partnership with AIMIA AIMIA has a 49% investment in PLM Value of PLM in 2013 US$518 Million 17 17
18 ENHANCING VALUE: AN ONGOING PRIORITY FOR AEROMEXICO Aeromexico is #5 airline ranked by ROIC WACC positive spread of 34 publicly-traded airlines. Only two Latin American airline companies achieved positive spread Source: Company filings and Deutsche Bank Airline Research 18
19 POSITIONED TO CAPITALIZE ON FUTURE GROWTH Low Penetration of Air Transportation Strengthening Mexican Economy Strength Canada Flights per capita (1) 3.7 RANK % Mexican GDP Growth and Estimated Impact of Reforms (3) United States Chile Brazil Mexico Argentina % 4.0% 3.0% 2.0% 1.0% Without Reforms With Reforms +0.8%-1.7% GDP growth United States Canada Chile Brazil Argentina Mexico ASK per capita (2) 5,364 4,970 1, RANK GDP and Traffic CAGR Growth Rates (4) Latin America 3.2 World 5.0 GDP growth rate Traffic growth rate (1) The World Bank 2013 (2) WEF The Global Competitiveness Report & The World Bank 2013 (3) SHCP, Criterios generales de Política Económica 2014 (4) Boeing Current Market Outlook as of June 19
20 UNIQUE POSITION TO ENHANCE VALUE AND SUSTAINABLE GROWTH PROFITABLE AND SUSTAINABLE GROWTH PROFITABLE AND SUSTAINABLE GROWTH STRONG NETWORK AND BALANCED REVENUE MANAGEMENT STRATEGY OPERATIONAL EXCELLENCE MEXICO MOMENTUM STRATEGIC PARTNERSHIPS ENHANCED PRODUCT AND SERVICE CASK REDUCTION Aeromexico Momentum: Profitable and Sustainable Growth 20
21 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-over-year will be an indicator of a similar performance in the future. Investor Relations investor.relations@aeromexico.com.mx Tel Contact Luz Montemayor lmontemayor@aeromexico.com.mx Daniel Frías dfrias@aeromexico.com.mx 21
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