Grupo Aeromexico IPO: how to trade Grupo Aeromexico shares

IPO stocks are often highly volatile, and early trading can involve rapid price swings and significant risk.

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When is the Grupo Aeroméxico IPO date?

The Grupo Aeroméxico IPO date is not yet confirmed, but it’s expected to mark Mexico’s flag carrier’s return to public markets – this time on Wall Street.

On 23 September 2025, Aeroméxico filed a registration statement with the US Securities and Exchange Commission (SEC) for a proposed initial public offering on the New York Stock Exchange (NYSE) under the ticker symbol AERO.

The filing, reported by Reuters and Investing.com, describes Aeroméxico as ‘the only full-service carrier based in Mexico and the only airline that provides long-haul, wide-body service connecting Mexico with the rest of the world.’

Offer structure and timing

The company has not yet disclosed the number of shares or expected price range. However, the prospectus confirms that Barclays, Morgan Stanley, JPMorgan, and Evercore ISI will act as joint lead underwriters, with additional banks expected to join the syndicate before pricing.

Why list in New York?

Aeroméxico’s choice of the NYSE underscores its international focus and long-standing partnership with Delta Air Lines, which already trades in the US. Listing in New York offers:

• Deeper institutional liquidity than Mexico’s domestic exchange;
• Dollar-denominated capital for fleet and network expansion; and
• Higher visibility among global aviation and infrastructure investors.

The offering also forms part of a broader trend of Latin-American issuers, such as LATAM Airlines and Copa Holdings, seeking US listings to attract international capital.

What is Grupo Aeroméxico?

Grupo Aeroméxico, S.A.B. de C.V. is Mexico’s national airline group, operating a global passenger and cargo network that links over 50 international cities in about 24 countries across North America, South America, Europe, and Asia.

Founded in 1934, Aeroméxico is Mexico’s only full-service carrier (FSC) and the sole airline in the country offering long-haul, wide-body flights.

Operations and scale

As of 30 June 2025, Aeroméxico served every major city in Mexico and maintained a 36.3% share of total passengers flying within, to and from Mexico, according to the AFAC (Aviation Federal Agency of Mexico).

The group operates from hubs at Mexico City International Airport (MEX), Felipe Ángeles International Airport (NLU), and Guadalajara, offering connectivity to business and leisure markets such as Cancún and Puerto Vallarta.

Aeroméxico’s current fleet comprises approximately 125 aircraft, primarily Boeing 737 MAX 8/9 and 787-9 Dreamliners, giving it one of the youngest, most fuel-efficient fleets in Latin America.

Alliances and ownership

The airline is a founding member of the SkyTeam Alliance, partnering with 18 international carriers including Air France-KLM and Korean Air. Delta Air Lines holds a 20% equity stake and shares revenue across US-Mexico routes through a joint co-operation agreement (JCA).

Other shareholders include Apollo Global Management and Mexican institutional funds that participated in the post-Chapter 11 recapitalisation in 2022.

Financial performance

In the first nine months of 2024, Grupo Aeromexico reported strong financial results, with revenue increasing to $4.185bn and net income reaching $542m. This improvement was driven by a nearly 25% increase in revenue for the 12 months ending June 2024, strong demand in both domestic and international markets, and increased operational capacity.

How does Aeroméxico make money?

Aeroméxico earns revenue through passenger transport, cargo logistics, loyalty programs, and ancillary services.

Passenger revenue accounts for roughly 91% of total income; cargo contributes 6%, and loyalty and ancillaries make up the remainder.

What might influence the Aeroméxico stock price?

The Aeroméxico stock price after listing will depend on industry fundamentals, macroeconomic conditions, and the airline’s execution on its growth strategy.

Macroeconomic environment

Mexico’s GDP growth of around 2.8% in 2025 and robust consumer spending support air-travel demand. A stronger peso reduces dollar-linked fuel and lease costs, but persistent oil-price volatility remains a risk.

The company has hedged approximately 50% of its 2026 fuel requirements to cushion against price fluctuations.

Competition and market share

Low-cost rivals Volaris and Viva Aerobus dominate the domestic market with a combined 70% share, pressuring fares on short-haul routes. Aeroméxico’s strength lies in its network breadth and premium service – serving 52 international cities across four continents and capturing higher-yield long-haul traffic.

Regulation and infrastructure

Mexico’s restoration of FAA Category 1 status in 2023 allows Aeroméxico to add new US routes, a key growth driver. However, capacity constraints at Mexico City’s airports remain a structural challenge. The government’s airport-modernisation programme and Felipe Ángeles Airport’s gradual ramp-up should ease bottlenecks through 2027.

Strategic partnerships and fleet

The expanded joint venture with Delta Air Lines provides revenue stability and network synergies on transborder flights. Fleet renewal with Boeing 737 MAX and 787-9 aircraft is lowering unit costs and reducing carbon emissions, supporting Aeroméxico’s goal of net-zero emissions by 2050.

Industry outlook

According to IATA, Latin-American air traffic is forecast to grow 6% annually through 2030. Mexico is the region’s largest aviation market and a key beneficiary of US-Mexico trade flows and tourism. Limited new aircraft deliveries due to supply-chain bottlenecks are keeping capacity tight – a factor supporting fares and profit margins in 2026.

Dividend policy

Management has stated that no dividends will be paid immediately after the IPO. Cash flow will be directed toward debt reduction and fleet investment. A dividend policy could be considered once net leverage drops below 2× EBITDA and profitability stabilises.

This approach aligns with industry practice among legacy carriers, prioritising financial resilience over short-term payouts.

Investor sentiment and valuation

The US airline sector has shown signs of recovery in 2025, improving overall confidence in aviation stocks. However, sentiment toward new listings remains sensitive to fuel prices, capacity trends, and broader market volatility.

If Aeroméxico maintains earnings momentum and approaches pricing conservatively, it could attract strong investor interest and provide a useful comparison point for other Latin-American carriers – though performance will ultimately depend on market conditions after listing.

You can keep your finger on the pulse of the markets with expert insight from our in-house analysts. Check out our news and analysis section for more.

How to trade Aeroméxico shares via CFDs

As and when the Aeroméxico launch date happens, trading its shares via contracts for difference (CFDs) allows you to speculate on its price movements – without owning the underlying stock.

How to get started

• Step 1: Choose a platform Use a trusted broker like Capital.com, offering access to thousands of shares, indices and more.
• Step 2: Open an account Provide your personal details, verify your identity, complete a short suitability questionnaire, and set your trading preferences.
• Step 3: Add funds Deposit using card or bank transfer. Start small, and manage your risk carefully.
• Step 4: Track Grupo Aeroméxico’s performance Use charts, technical indicators and price alerts to monitor the market and spot trading opportunities.
• Step 5: Go long or short with CFDs Think the price will rise? Go long. Expect a drop? Go short. Apply stop-loss* or take-profit levels to manage your trades.

IPOs can be volatile, especially in the early days of trading. CFDs give you the flexibility to act on price swings in either direction. However, CFDs are traded on margin. Leverage above 1:1 magnifies losses and gains, which amplifies risk. Always use risk-management tools and stay informed with expert insights available on the Capital.com platform and app.

*Standard stop-losses are not guaranteed. Guaranteed stop-losses incur a fee when activated.

Which aviation stocks can I trade?

Until the potential Aeroméxico IPO listing date happens, traders and investors can follow similar aviation and travel stocks on Capital.com:

• Delta Air Lines (DAL) – Aeroméxico’s US partner and SkyTeam co-founder.
• Copa Holdings (CPA) – Panama-based airline with industry-leading margins.
• United Airlines (UAL) and American Airlines (AAL) – US majors that offer regional exposure to Latin America.

These comparables provide context for valuations and market sentiment around Latin-American aviation.

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