AMEXICO

The author analyzes Aeromexico post-bankruptcy and post-IPO, highlighting its position as Mexico's only full-service carrier with a strong hold on domestic corporate demand. While acknowledging the risks of the airline industry, the author is intrigued by Aeromexico's leaner cost structure, record operating margins, and loyal customer base. The summary also notes the company's solid liquidity and cash flow, but also points out the shareholders' equity deficit and the termination of its joint venture with Delta as potential risks.