# Grupo Aeroméxico (AERO.US)

Canonical: https://gigainvestors.com/s/AERO

Analysis as of: 2026-10-04T19:04:05.710Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed. Published buy qualification: no.

Share price: $16.35 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Seth Klarman](https://gigainvestors.com/BAUPOST): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Howard Marks](https://gigainvestors.com/oc): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 28% since Dec 2025

Story as of 2026-10-04T23:06:37.421Z; price observation 2026-09-29.

## Owner memo

Memo as of 2026-10-04T19:04:05.710Z.

### How it makes money

Operates in airlines; annual sales are USD 5.4 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1561861/000119312526197494/d101275d20f.htm (filed 2026-04-30); FY2025: revenue 5360570000; grossProfit 1479082000; margin = grossProfit / revenue.

### Where the cash goes

Paid no dividends in 1 year; bought back USD 205.3 million of shares.

- Source: https://www.sec.gov/Archives/edgar/data/1561861/000119312526197494/d101275d20f.htm (filed 2026-04-30); FY2025: growth capex 0; upkeep 335572939; owner earnings 745888061. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-30); Dividend observations: [[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1561861/000119312526197494/d101275d20f.htm (filed 2026-04-30); FY2025: cash repurchases 205294844 USD.

### What the price says

The price is 0.4 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-30); Closing price 15.84 USD; reporting-to-trading FX 1; FY2025 annual sales per share 36.7405420298636; price multiple 0.43113136401539387. FY2025 cash earnings/share 5.1122047944050655. Closing-price date 2026-09-29.

## Monthly share-price history (USD per share)

- 2025-11: $18.54 per share

- 2025-12: $21.96 per share

- 2026-01: $20.05 per share

- 2026-02: $18.91 per share

- 2026-03: $14.01 per share

- 2026-04: $15.19 per share

- 2026-05: $16.96 per share

- 2026-06: $18.00 per share

- 2026-07: $15.40 per share

- 2026-08: $14.51 per share

- 2026-09: $15.79 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1561861/000119312526197494/d101275d20f.htm); period 2025-12-31, filed 2026-04-30.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Seth Klarman](https://gigainvestors.com/BAUPOST): 4,880,188 AERO shares; USD 87,843,000 reported position value; 1.62% of portfolio; hold; quarter 2026 Q2.
- [Howard Marks](https://gigainvestors.com/oc): 3,968,686 AERO shares; USD 71,436,000 reported position value; 1.89% of portfolio; hold; quarter 2026 Q2.

# AERO — Grupo Aeromexico Sab De Cv

Held by 2 investors · USD 159,279,000 total · 2026 Q2 · reported price USD 18.00 (split-adjusted).
Page: https://gigainvestors.com/s/AERO

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Seth Klarman (https://gigainvestors.com/BAUPOST) | USD 87,843,000 | 1.6% | hold |
| Howard Marks (https://gigainvestors.com/oc) | USD 71,436,000 | 1.9% | hold |

## Total held by quarter

- 2025 Q4: USD 189,562,366 · 2 holders · USD 21.96
- 2026 Q1: USD 123,972,725 · 2 holders · USD 14.01
- 2026 Q2: USD 159,279,000 · 2 holders · USD 18.00