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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).
MEXICO CITY, Dec. 7, 2020 /PRNewswire/ -- Volaris (NYSE: VLRS) has launched a primary follow-on equity offering of 120 million Ordinary Participation Certificates (CPOs), equivalent to 12 million American Depositary Shares (ADSs). Each ADS represents 10 CPOs, linked to one Series A share of common stock. The proceeds will be used for general corporate purposes. The underwriters include Morgan Stanley, Evercore ISI, Santander, Citigroup, and BofA Securities. Investors are advised to refer to the prospectus for detailed information on the offering.
On December 2, 2020, Volaris (NYSE: VLRS) announced strong preliminary traffic results for November 2020, achieving a capacity of 98% and a demand of 88.7% compared to November 2019. The airline transported 1.6 million passengers, marking a 14% increase from October. The booked load factor stood at 80.5%. Additionally, Volaris launched seven new international routes and plans to operate 100% of its capacity in December. This strong recovery demonstrates Volaris' ability to capitalize on demand in the VFR and leisure segments amid the ongoing COVID-19 challenges.
Volaris (NYSE: VLRS) reported strong recovery in October 2020 traffic results, with capacity at 84.3% compared to last year and demand at 80.8%, up 13.3% from September. The airline transported 1.4 million passengers, marking a 14% increase from the previous month. October's load factor reached 82.1%, up 7.7 percentage points versus September. Volaris announced new domestic and international routes and plans to operate at 94% capacity in November, including an upcoming relaunch of Central American operations.
Aircastle Limited completed its first sale and leaseback of an A320 NEO aircraft with Volaris, marking the addition of the 28th NEO to the airline's fleet. The long-term lease agreement spans 12 years, with a second aircraft delivery expected later this month. CEO Mike Inglese emphasized the company’s ability to respond quickly to market needs, while Volaris acknowledged Aircastle's role in facilitating this transaction amid a recovering airline market in Mexico.
Volaris (VLRS) reported its third quarter 2020 financial results amid ongoing challenges from the COVID-19 pandemic. Total operating revenues fell by 50.3% year-over-year to Ps.4,724 million, with net loss reaching Ps.2,175 million, showing a significant drop from a previous operating income of Ps.1,703 million. Despite a 38.3% decline in passenger traffic, the company managed to increase ancillary revenue per passenger by 13.9%. Operating expenses per available seat mile (CASM) rose 20.9%, impacting the operating margin negatively to -47.1%. Volaris maintains a positive net cash position of Ps.2,387 million.
Volaris (NYSE: VLRS) reported its preliminary traffic results for September 2020, indicating a strong recovery. Capacity, measured by ASMs, stood at 84.2% compared to last year, while demand, measured by RPMs, reached 75.6%. The airline transported 1.3 million passengers, a 4.1% increase from August 2020, with a booked load factor of 74.4%. Volaris aims to operate 85% of capacity in October, with effective marketing strategies targeting first-time flyers being instrumental in this recovery process.
Volaris (NYSE: VLRS), the ultra-low-cost airline, announced adjustments to its hedging relationships as of June 30, 2020. The changes, prompted by lower jet fuel consumption due to COVID-19, resulted in a Ps.120 million benefit in the company’s net loss for the six months ended June 30, 2020. Additionally, Ps.53 million were reclassified to operating expenses. Total operating revenues for the period were Ps.1,526 million, with an operating loss of Ps.2,347 million. The total assets reported were Ps.67,783 million with total liabilities at Ps.71,951 million.
Volaris (NYSE: VLRS) has announced an extraordinary general shareholders meeting scheduled for September 18, 2020. The company plans to raise up to MXN 3.5 billion to enhance its capital and leverage potential growth opportunities. Shareholder approval is sought for new share issuance, which may include a rights offering or the sale of shares. This capital raise aims to improve Volaris' liquidity amid the challenges posed by the COVID-19 pandemic. The company's ultra-low-cost model positions it to capitalize on domestic market shifts and expand its operations.
On September 3, 2020, Volaris (NYSE: VLRS) reported its preliminary traffic results for August 2020, indicating a robust recovery in the Mexican aviation market. Capacity, measured by ASMs, improved to 78.6% year-over-year, with a 21.8% increase from July 2020. Demand, as RPMs, reached 68.4% compared to last year, marking a 20.8% rise monthly. Volaris transported 1.2 million passengers in August, equating to 64.9% of August 2019's figures. The load factor was 72.6%, reflecting a 10.9 pp decrease year-over-year due to increased capacity. Volaris plans to operate at approximately 75% capacity in September.
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