Grupo Aeromexico's stock plummeted 5.66% during intraday trading on Wednesday, following the release of its first-quarter financial results.

The airline reported Q1 net income of $11 million, a significant decline from $22 million in the same period a year earlier. While revenue for the quarter rose to $1.34 billion from $1.18 billion a year ago, the sharp drop in profitability appears to have disappointed investors.

The earnings report was released ahead of the market open, with the stock showing weakness in pre-market activity before the steeper decline during the regular trading session.