Grupo Aeromexico reported a MXP18 million ($914,000) net profit for 2017, down 98.4% from MXP1.1 billion net income in 2016. While economic growth in Mexico remained stable in 2017, as the country’s GDP increased 2.3%, the peso appreciated 4.7% year-over-year (YOY) relative to the US dollar and annual inflation hit 6.8%, the country’s highest rate in 17 years. The rise in inflation put pressure on peso cost line items, the company said. Increasing fuel prices took a toll as ...

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