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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (symbol: VLRS), widely known as Volaris, is a leading low-cost airline company headquartered in Santa Fe, Álvaro Obregón, Mexico City. As a prominent player in the aviation industry, Volaris operates extensive flight routes connecting major cities across Mexico, the United States, Central America, and South America. The airline's primary hubs are located in Guadalajara, Mexico City, and Tijuana, with additional focus cities in Cancún, León, and Monterrey.
Volaris is renowned for its budget-friendly pricing model, often offering promotional fares that rival long-distance bus tickets in Mexico. This strategy has not only democratized air travel but has also positioned the airline as a preferred choice for cost-conscious travelers. The company operates an impressive average of 500 daily flight segments, serving 44 cities in Mexico, 22 cities in the United States, four in Central America, and two in South America.
In 2022, Volaris solidified its leadership as the domestic market leader in Mexico by the number of passengers flown, setting the stage for continued growth. The airline's revenue comes from multiple streams, including the air transportation of passengers, which is recognized when the service is rendered or when non-refundable tickets expire. Additionally, Volaris generates income from non-passenger revenues such as cargo services.
Recent financial updates indicate a robust performance. Despite challenges such as the accelerated inspections of Pratt & Whitney engines leading to some aircraft groundings, Volaris has maintained its commitment to customer service and operational excellence. The company recently announced financial results for Q1 2024, reporting 6.9 million booked passengers, with capacity adjustments reflecting the current operational insights.
Investors and stakeholders are encouraged to stay informed through regular updates and detailed reports provided by the company. For further inquiries, the Investor Relations contact is Ricardo Martínez (ir@volaris.com), and the Media Contact is Israel Álvarez (ialvarez@gcya.net).
Volaris (NYSE: VLRS) will release its first quarter 2021 earnings on April 22, 2021, after the market closes. The conference call and webcast will take place on April 23, 2021, at 10:00 AM U.S. EDT, hosted by President and CEO Enrique Beltranena and CFO Jaime Pous. Investors can access the webcast via Volaris' Investor Relations website. Since its inception in 2006, Volaris has expanded its operations significantly, now offering over 410 daily flights to 43 cities in Mexico and 25 in the U.S. The company targets budget-conscious travelers with an ultra-low-cost model.
Volaris (NYSE: VLRS) has announced a general ordinary annual shareholders' meeting scheduled for April 26, 2021. This meeting is mandated under Mexican law to address corporate matters including the approval of financial statements for the year ended December 31, 2020. The agenda covers the performance of the Board of Directors, allocation of fiscal results, share repurchase resolutions, and appointment of board members. Shareholders must register and request admission cards in advance, adhering to health protocols due to COVID-19.
On April 7, 2021, Volaris (NYSE: VLRS) reported March 2021 traffic results, showcasing a recovery in the domestic Mexican market with a 4.6% increase in Available Seat Miles (ASMs) year-over-year. Domestic Revenue Passenger Miles (RPMs) grew by 7.8%, while total capacity measured by ASMs was 92.8% compared to last year. However, international capacity saw a decline of 35.4%, resulting in total RPMs down by 2.0%. Volaris transported 1.5 million passengers in March, achieving an impressive load factor of 86.9%. The airline expects to operate at approximately 110% of Q2 2019 capacity in the upcoming quarter.
Volaris (NYSE: VLRS) has appointed Jaime E. Pous as its permanent Chief Financial Officer after serving in an interim role since June 2020. His leadership is credited with effectively managing the company's finances during the COVID-19 pandemic. Pous will now oversee finance, accounting, and investor relations, reporting to Enrique Beltranena, President and CEO. Isela Cervantes will act as interim Chief Legal Officer following Pous's departure from the role. The company highlights its commitment to strengthening management and financial discipline amid ongoing challenges.
Volaris (NYSE: VLRS) reports preliminary traffic results for February 2021, showing the impact of COVID-19 with a 35% drop in total Revenue Passenger Miles (RPMs) compared to February 2020. The airline transported 1.1 million passengers and achieved a load factor of 74.1%. Capacity, measured by Available Seat Miles (ASMs), decreased by 25.3%. Despite the current demand weakness due to increased COVID-19 cases, Volaris is focused on maintaining liquidity and anticipates improvements in forward bookings, increasing capacity guidance for Q1 2021 to 85%.
On February 18, 2021, Volaris (NYSE: VLRS) reported its fourth quarter 2020 financial results, showing an operating margin of 11.9% and a 16.9% decline in total operating revenues to Ps.8,086 million. Despite a challenging environment due to COVID-19, ancillary revenues grew 21.4% year-over-year, constituting 48% of total revenues. The company raised approximately U.S.$164 million from an equity offering, improving its liquidity, ending the quarter with Ps.10,103 million in cash. Forward-looking, Volaris anticipates reduced demand and a conservative capacity approach for Q1 2021, aiming for 80% of last year’s capacity.
Volaris (NYSE: VLRS) reported preliminary traffic results for January 2021, amid ongoing COVID-19 challenges. The airline's capacity, measured by Available Seat Miles (ASMs), was at 97% of January 2020 levels, while Revenue Passenger Miles (RPMs) reached 83%. Volaris transported 1.5 million passengers with a load factor of 73.9%. Despite a strong recovery signal, the company anticipates reduced demand and a more conservative capacity plan for Q1 2021 due to recent US regulations requiring negative COVID-19 tests for international travelers.
Volaris (NYSE: VLRS), the ultra-low-cost airline, has announced its fourth quarter 2020 earnings release scheduled for February 18, 2021, after market close. The conference call will take place on February 19, 2021, at 10:00 am U.S. EDT. Key executives, including CEO Enrique Beltranena, will present the results. Volaris operates over 391 daily flights connecting 43 cities in Mexico and 25 in the U.S., boasting a fleet of 86 aircraft since commencing operations in March 2006. The company aims to cater to cost-conscious travelers in Mexico and the U.S.
Volaris (NYSE: VLRS) reported December 2020 traffic results, showing a significant month-over-month recovery post-COVID-19. Capacity (ASMs) increased by 101.9% year-over-year, with passenger numbers hitting 1.8 million, up 8.7% from November. The load factor for December was 78.5%. Volaris introduced a new route from Cancun to Oaxaca and saw demand rebound, particularly in the domestic market. For January 2021, the airline plans to operate at approximately 98% of last year's capacity. This indicates a strong recovery trajectory for Volaris in the aviation sector.
On December 9, 2020, Volaris (NYSE: VLRS) announced the pricing of an upsized primary follow-on equity offering, selling 134 million Ordinary Participation Certificates (CPOs) as American Depositary Shares (ADSs) at $11.25 each. The offering includes a provision for underwriters to purchase an additional 20.1 million CPOs. The proceeds will be deployed for general corporate purposes. Morgan Stanley, Evercore ISI, Santander, Citigroup, and BofA Securities are the underwriters, with closing anticipated on December 11, 2020.
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