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MIAMI BEACH, Fla., Oct. 19, 2026 (GLOBE NEWSWIRE) — Thomas J. Herzfeld Advisors, Inc., an SEC-registered investment adviser, and Herzfeld Credit Income Fund, Inc. (NASDAQ: HERZ) (the “Fund”) today announced the preliminary results of the Fund’s cash tender offer to purchase up to 5% of its outstanding common shares at 97.5% of the Fund’s most recently determined net asset value (“NAV”) per share as of October 15, 2026, the expiration date of the tender offer (the “Tender Offer”).

The table below shows the preliminary results for the Fund:

* Equal to 97.5% of the Fund’s most recently determined NAV per share as of October 15, 2026 (the date the Tender Offer expired).

Under the terms and conditions of the Fund’s Tender Offer, if the number of common shares properly tendered exceeds the number of common shares offered to purchase, the Fund will purchase common shares properly tendered on a pro-rata basis (disregarding fractional shares). Based on the preliminary results shown above, the Fund expects to purchase a pro-rata allocation of the common shares properly tendered.

The above-indicated results are based on preliminary information provided by Equiniti Trust Company, LLC, the depositary for the Tender Offer, are subject to adjustment and should not be regarded as final. The Fund currently expects to announce the final results of its Tender Offer on or about October 20, 2026. 

EQ Fund Solutions, LLC is the information agent for the Offer. Shareholders with questions may call EQ Fund Solutions, LLC at (888) 628-1041.

About the Fund

Herzfeld Credit Income Fund, Inc. (the “Fund”) is a non-diversified, closed-end management investment company incorporated under the laws of the State of Maryland on March 10, 1992, and has registered as an investment company under the Investment Company Act of 1940 (the “1940 Act”). The Fund’s investment adviser is Thomas J. Herzfeld Advisors, Inc. (the “Adviser”). The Fund’s primary investment objective is maximizing risk adjusted total returns with a secondary objective of generating high current income for stockholders. In accordance with the investment objective, the Fund’s current principal investment strategies and policies focus on investing in credit related instruments, including equity and junior debt tranches of collateralized loan obligations, or “CLOs.”

About Thomas J. Herzfeld Advisors, Inc.

Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

More information about the advisor can be found at www.herzfeld.com.

Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. There can be no assurance that any Share repurchases will reduce or eliminate the discount of the Fund’s market price to the Fund’s net asset value per share. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

Forward-Looking Statements

This press release, and other statements that Thomas J. Herzfeld Advisors, Inc. (“TJHA”) or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) shares of the Fund may trade at a discount from Net Asset Value; (2) risk of investment in CLOs and related securities generally; (3) dependence on managers of the CLOs in which the Fund invests; (4) the Fund is exposed to risks associated with equity and equity-linked securities to the extent that adverse equity market conditions could negatively impact the ability of the borrowers to make payment of interest and/or principal with respect to loans underlying the CLOs in which the Fund invests; (5) as a “non-diversified” investment company, the Fund’s investments involve greater risks than would be the case for a similar diversified investment company; (6) the Adviser’s judgment about the attractiveness, relative value or potential appreciation of a particular security or investment strategy may prove incorrect; and (7) market disruption risks, including certain events that have had a disruptive effect on the securities markets, generally, such as pandemics, terrorist attacks, war and other geopolitical events, hurricanes, droughts, floods and other natural disasters. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/herz and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

Contact:
Tom Morgan
Chief Compliance Officer
Thomas J. Herzfeld Advisors, Inc.
1-305-777-1660

• Record Quarterly Total Revenue of $1.6 billion
• Adjusted EBITDAR
  
  ⁽¹⁾
  
  Margin of 24%
• Operating Margin of 12%
• Liquidity⁽²⁾ to LTM Revenue ratio at 21%

MEXICO CITY, Oct. 19, 2026 (GLOBE NEWSWIRE) — Grupo Aeroméxico S.A.B. de C.V. (NYSE: AERO & BMV: AERO, “Aeroméxico” or the “Company”) today reported unaudited consolidated financial results for the three months ended September 30, 2026 (“3Q26”). These results are based on information available to us as of the date of this earnings release and are not a comprehensive statement of our financial results for the period presented. The Company has used the U.S. dollar, its functional currency, as the presentation currency for its consolidated financial statements. All figures are expressed in millions of U.S. dollars unless otherwise indicated.

Andrés Conesa, Chief Executive Officer stated: “Aeroméxico delivered another strong quarter, with record revenue and a double-digit operating margin of 12%. Demand remained healthy, driven primarily by strong international markets, premium revenue growth, and continued momentum in our loyalty program. Despite jet fuel prices reaching historic highs during the quarter, targeted revenue initiatives, disciplined cost management, and moderated capacity deployment enabled us to offset the impact of higher fuel costs. Looking ahead, demand trends remain constructive, and we expect fourth quarter revenue to grow by approximately 15% year over year. As we resume growth with discipline, we expect to unlock further operating leverage and continue enhancing profitability.”

OPERATING & FINANCIAL HIGHLIGHTS 3Q26

• Capacity, measured in available seat miles (ASMs), increased by 1.3% year-over-year.
• Total revenue reached $1.6 billion; a 13.6% increase compared to the same period of 2025.
• Total fuel expense amounted to $469.0 million, a 57.6% year-over-year increase, equivalent to an increase of $171.5 million.
• Adjusted EBITDAR⁽¹⁾totaled $389.2 million, with a 24.0% margin.
• Operating income totaled $189.6 million, with an 11.7% margin.
• Total adjusted net debt to EBITDAR⁽¹⁾ ended the quarter at 2.1x. 
• Liquidity⁽²⁾ totaled $1.2 billion, equivalent to 20.7% of last-twelve-month revenues.

4Q26 & FULL YEAR OUTLOOK

The Company’s updated outlook for the remainder of the year reflects the October 16, 2026 fuel forward curve and continued cost pressures, while maintaining the assumption of a healthy demand environment. Revenue generation in the fourth quarter is expected to remain healthy, supported by sustained demand trends and disciplined commercial execution. Higher utilization of our existing fleet is expected to support planned capacity growth, strengthen operating leverage, and keep cost per ASM excluding fuel (CASM-Ex) broadly stable year-over-year in 4Q26.

The guidance reflects an average all-in fuel price of approximately USD $4.5 per gallon for the fourth quarter. It also assumes exchange rate of $18.0 Mexican pesos per U.S. dollar for the fourth quarter.

KEY FINANCIAL AND OPERATING HIGHLIGHTS FOR THE THIRD QUARTER

THIRD QUARTER 2026 RESULTS

Income Statement Discussion

Revenue

Total revenue for the third quarter of 2026 reached $1.6 billion, a 13.6% year-over-year increase, setting a quarterly record for the Company. Revenue growth was primarily driven by higher passenger revenue, particularly across international markets, as the Company implemented targeted pricing actions to mitigate the impact of higher fuel costs. This performance reflects the Company’s ability to pass-through the impact of elevated fuel prices, supported by disciplined network deployment, and complementary revenues, including loyalty and cargo.

During the third quarter of 2026, Aeroméxico updated its loyalty program breakage — the first such alignment since 2018— to better reflect current member activity and long-term program trends. This update resulted in the recognition of $48.7 million in revenue for the period alongside an adjustment to our deferred liability. More importantly, this updated approach establishes the baseline that will drive sustained, positive growth in our annual loyalty revenue moving forward.

Our premium revenue⁽³⁾ mix reached 42% of passenger-related revenue, 1 p.p. above 3Q25, supported by continued upsell of higher-yield products and ancillary services. The Company’s fare segmentation and premium cabin cross-sell initiatives continue to broaden customer choice while enhancing the strength and resilience of our revenue base. Cargo revenues grew 15.8%, driven by the implementation of various commercial initiatives.

Capacity increased 1.3% year over year, in line with the Company’s guidance. The Company continued to optimize its network through disciplined capacity deployment, selectively allocating capacity toward higher-yielding international markets and adjusting flight frequencies to align supply with demand.

Total revenue per Available Seat Mile (“TRASM”) reached 17.2¢, representing a 12.2% year-over-year increase. This growth was primarily driven by higher passenger revenue, particularly across international markets, as well as increases in cargo revenue, loyalty, and other commercial revenues. 

Operating Expenses

In 3Q26, total operating expenses—including fuel, labor, maintenance, passenger and aircraft services, aircraft leases, selling, general and administrative expenses, depreciation and amortization and other expenses—reached $1.4 billion, an increase of 21.9% compared to 3Q25. The increase was primarily driven by higher fuel costs, as prices remained elevated throughout the quarter, with benchmark prices peaking above $4.7 per gallon in September—the highest level since the Middle East conflict began in March. Fuel expense increased by approximately $171.5 million year-over-year, exceeding the level contemplated in the Company’s 3Q26 guidance by approximately $93.0 million.

Fuel cost per gallon⁽⁴⁾ increased by 60.6% compared to 3Q25, averaging US$4.0 per gallon in 3Q26 compared to US$2.5 per gallon in 3Q25. Fuel consumption decreased by 1.8% year-over-year, while fuel burn per ASM (liters of fuel consumed per ASM) decreased by 3.1%, mainly due to a more efficient fleet mix. 

Excluding fuel, operating expenses rose 9.8% year over year. This rise primarily reflected the continued strength of the Mexican peso, which increased the dollar-denominated cost of certain peso-based expenses, as well as inflationary pressures on wages, salaries, and benefits, higher distribution costs due to increased sales, and increased depreciation and amortization associated to fleet growth.

CASM-Ex was 10.1¢ in 3Q26, representing an increase of 7.1% compared with the same period in 2025. The increase primarily reflected the impact of the stronger Mexican peso and inflationary pressures, partially offset by continued cost discipline and operating efficiencies.

Adjusted EBITDAR⁽¹⁾ and Operating Income

Adjusted EBITDAR⁽¹⁾ amounted to $389.2 million, representing a strong 24.0% margin. These results reflect solid revenue performance and the Company’s ability to offset the year-over-year increase in fuel costs in absolute terms.

Operating income for the third quarter was $189.6 million, representing a robust 11.7% operating margin. While profitability was pressured by a higher-than-expected fuel environment and the expected increase in non-fuel operating costs, this performance underscores the strength of the Company’s business model and its ability to preserve healthy profitability despite these headwinds.

Net Financing Cost

Net financing costs increased by 7.7% compared to the same period in 2025, mainly driven by higher financial expenses arising from lease obligations associated with fleet expansion.

Net Income

Net income in 3Q26 totaled $40.6 million, with a 2.5% margin.

BALANCE SHEET AND CASH FLOW

As of September 30, 2026, Aeroméxico generated $541.7 million in net cash from operating activities, supporting both its planned investments and deleveraging program. Despite elevated fuel prices and related cost pressures, this strong operating cash generation enabled the Company to maintain its capital expenditure plan while continuing to reduce financial debt. During the third quarter, the Company repaid $7.2 million of financial debt, further reducing its outstanding obligations.

As of September 30, 2026, Aeroméxico reported cash and cash equivalents of $965.1 million, an increase of $31.0 million compared with the same period in the previous year. During the quarter, the Company renewed and upsized its revolving credit facility from $200.0 million to $250.0 million. Including the revolving credit facility, total liquidity reached $1.2 billion, representing 20.7% of last-twelve-month revenue.

OPERATING FLEET

During 3Q26, Grupo Aeroméxico received one Boeing 787-9 aircraft. Grupo Aeroméxico’s operating fleet was comprised of 170 aircraft as of September 30, 2026, with an average age of 9.1 years.

Footnotes

1. See Annex A for the definition of Aeroméxico’s non-IFRS measures and a reconciliation to the nearest IFRS measure.
2. Liquidity is defined as cash and cash equivalents, and the revolving credit facility.
3. Premium revenue mix consists of revenue from premium products and services above Basic / Classic coach cabin products. Ratio is calculated based on total passenger revenue.
4. Equivalent to 1.05 USD per liter in 3Q26 and 66¢ per liter in 3Q25.

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About Grupo Aeroméxico

Grupo Aeroméxico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeroméxico, Mexico’s global airline, has its main operations center in Terminal 2 of the Mexico City International Airport. Its destination network has reach in Mexico, the United States, Canada, Central America, South America, Asia and Europe. The Group’s current operating fleet includes Boeing 787 and 737 aircraft, as well as the latest generation Embraer 190. Aeroméxico is a founding partner of SkyTeam, an alliance that celebrates 26 years and offers connectivity in more than 170 countries, through the 18 partner airlines. Aeroméxico created and implemented a Health and Hygiene Management System (SGSH) to protect its clients and collaborators at all stages of its operation.www.aeromexico.com / www.skyteam.com

Forward Looking Statements

This press release contains certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act, that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. We use words such as “believe,” “anticipate,” “plan,” “expect,”, “intend,” “target,” “estimate,” “project,” “predict,” “guidance,” “forecast,” “guideline,” “should” and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Important factors that could cause such differences include, but are not limited to: external risks, including health threats, accidents, global instability, security breaches, terrorism and natural disasters; global geopolitical conflicts, particularly those that impact the price of jet fuel; Mexican and international economic conditions, as well as seasonality, on customer travel behavior; the current U.S.’s administration tariffs on the Company’s costs and the actions of other governmental authorities in Mexico, the U.S. and other countries; fuel market volatility; the Company’s capacity to fulfill the Company’s fixed obligations, obtain financing and/or maintain liquidity; the Company’s capacity to retain and attract key personnel and other professionals, and the Company’s labor relations with employees; the Company’s reliance on few aircraft manufacturers and other third-party providers; the Company’s aircraft utilization rate and aircraft maintenance costs; changes in landing charges, airport access fees and inadequate airport infrastructure; consumer protection restrictions; dependence on the Company’s main hub, MEX; air traffic congestion; the competitive environment in the aviation industry, including those arising from non-air travel substitutes; sanctions and compliance with anti-corruption, anti-money laundering, anti-drug trafficking and other ethical rules and standards; reliance on partnerships and alliances and challenges in entering into new ones; and other factors described in “Risk Factors” of the annual report on Form 20-F filed with the SEC on April 30, 2026. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Annex A on Non-IFRS Financial Measures

In addition to disclosing financial results prepared in accordance with IFRS, the Company discloses information regarding Adjusted EBITDAR, Adjusted EBITDAR Margin, Adjusted Net Debt and Net Leverage Ratio, which are non-IFRS measures. The Company believes that these measures are useful indicators of its operational performance. These known performance measurements in the aviation industry are frequently used by investors, stock analysts and others who are interested in comparing the operational performance of companies in their industry.

The Company defines Adjusted EBITDAR as profit or loss for the period before income tax expense (benefit), depreciation and amortization, net finance cost, and impairment (reversal), before aircraft leasing expense, in light of the non-recurring nature of this item. The Company considers Adjusted EBITDAR to be solely a valuation metric, not a performance metric. The Company defines Adjusted EBITDAR Margin as Adjusted EBITDAR divided by total revenue for the period. The Company defines Adjusted Net Debt as total loan and borrowings, including leases, minus cash and cash equivalents. The Company defines Net Leverage Ratio as Adjusted Net Debt Ratio divided by Adjusted EBITDAR for the period.

All of the above-mentioned non-IFRS financial measures have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of the Company’s results as reported under IFRS. Some of these limitations are: (i) they do not reflect the Company’s cash expenditures, or future requirements for capital expenditures or contractual commitments; (ii) they do not reflect changes in, or cash requirements for, its working capital needs; (iii) they do not reflect the Company’s cash requirements necessary to service interest or principal payments on the Company’s debt; (iv) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and they do not reflect any cash requirements for such replacements; (v) they do not adjust for all non-cash income or expense items that are reflected in the Company’s consolidated statements of profit or loss and other comprehensive income; (vi) they do not reflect the impact of all non-recurring items; and (vii) other companies in the Company’s industry may calculate these measures, or similarly titled measures, differently than the Company does, limiting their usefulness as comparative measures.

Reconciliations of each of these historical measures, and to the extent applicable, forward-looking measures to the most directly comparable IFRS measure are below. No reconciliation of the forecasted amounts of Adjusted EBITDAR Margin, as incrementally adjusted, for fiscal 2026 is included in this release because we are unable to quantify certain amounts that would be required to be included in the corresponding IFRS measure without unreasonable efforts, due to high variability and complexity with respect to estimating certain forward-looking amounts, and we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors.

Figures may not sum to total due to
rounding.


¹⁾

Depreciation and amortization expense as presented in our profit or loss.
²⁾ Aircraft leasing is comprised of short-term rentals of flight equipment, including subject to PBH period.
³⁾ Adjusted EBITDAR is a non-IFRS measure and has limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of the Company’s results as reported under IFRS.

Figures may not sum to total due to rounding.


¹⁾

Adjusted Net Debt is a non-IFRS measure and has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of the Company’s results as reported under IFRS.

Figures may not sum to total due to rounding.


¹⁾

Adjusted Net Debt, Adjusted EBITDAR and Net Leverage Ratio are non-IFRS measures and have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of the Company’s results as reported under IFRS.

TORONTO, Oct. 19, 2026 (GLOBE NEWSWIRE) — FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) announced today that its subsidiary, Century Fire Protection (“Century”), has recently acquired A&A Fire Protection, LLC (“A&A”). Jake Gilstrap, President of A&A, will continue to lead day-to-day operations and retain a minority equity interest. Terms of the transaction were not disclosed.

Headquartered in Greenville, South Carolina and founded in 1977, A&A is a leading provider of fire sprinkler design, installation, inspection and repair services to a broad range of commercial end-markets across South Carolina as well as regions spanning western North Carolina and north Georgia.

“This acquisition furthers Century’s strategy of enhancing its scale and broadening its client base in existing markets,” said Richard Deeb, CEO of Century. “We are excited to be partnering with the A&A team and look forward to collectively deepening our fire sprinkler and alarm capabilities in the growing Carolina markets.”

ABOUT FIRSTSERVICE CORPORATION

FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America’s largest manager of residential communities; and FirstService Brands, one of North America’s largest providers of essential property services delivered through individually branded company-owned operations and franchise systems.

FirstService generates more than $5.5 billion in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol “FSV”, and are included in the S&P/TSX 60 Index. More information is available at www.firstservice.com.

FORWARD-LOOKING STATEMENTS

This press release includes or may include forward-looking statements. Much of this information can be identified by words such as “expect to,” “expected,” “will,” “estimated” or similar expressions suggesting future outcomes or events. FirstService believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results, performance or achievements contemplated in the forward-looking statements. Such factors include: (i) general economic and business conditions, which will, among other things, impact demand for FirstService’s services and the cost of providing services; (ii) the ability of FirstService to implement its business strategy, including FirstService’s ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and (iv) other factors which are described in FirstService’s annual information form for the year ended December 31, 2025 under the heading “Risk factors” (a copy of which may be obtained at www.sedarplus.ca) and Annual Report on Form 40-F filed with the United States Securities and Exchange Commission (a copy of which may be obtained at www.sec.gov), and subsequent filings (which factors are adopted herein). Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements contained in this press release to reflect subsequent information, events, results or circumstances or otherwise.

COMPANY CONTACT:

Jeremy Rakusin

CFO

FirstService Corporation

(416) 960-9566