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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).
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS) reported strong preliminary traffic results for January 2023. Capacity increased by 16.0% year-over-year, while demand surged by 23.1%, leading to a load factor of 86.2%, up 5.0 pp year-over-year. The airline transported 2.9 million passengers, a 21.8% increase compared to January 2022, with domestic demand rising 17.9% and international demand increasing 35.7%. The economic jet fuel price also rose significantly, averaging $3.81 per gallon, a 42.2% increase over the previous year.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS) reported December 2022 traffic results, showing a capacity increase of 18.5% and a 16.9% rise in demand year-over-year, achieving a load factor of 84.7%. The company transported 2.9 million passengers, a 13.9% increase compared to December 2021. Domestic demand grew by 13.3% while international demand surged by 26.1%. For 2022, capacity rose 25.6% with an overall load factor of 85.6%. Despite operational disruptions from Winter Storm Elliott, Volaris quickly recovered.
Volaris (NYSE: VLRS) hosted its 2022 Investor Day, outlining its strategic growth plans and market leadership. The ultra-low-cost carrier aims to double revenue, EBITDAR, and free cash flow over the next three years compared to pre-pandemic levels. The company benefits from a young, fuel-efficient fleet, with plans to transition to an all-NEO fleet by 2027 and expects significant expansion in Mexico and Central America. Volaris anticipates a likely upgrade to FAA Category 1 status, enhancing route opportunities to the U.S.
Controladora Vuela Compañía de Aviación (NYSE: VLRS) announced November 2022 traffic results, showing a 19.5% increase in capacity year-over-year and an 18.8% rise in demand, yielding a load factor of 88.0%. The company transported 2.7 million passengers, up 13.7% from November 2021. Domestic demand grew 12.2% while international markets soared by 37.4%. For the year-to-date, demand increased 28.0% with a load factor of 85.7%. The CEO expressed optimism about future performance, citing strong forward bookings.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS) reported strong preliminary traffic results for October 2022, with a 22.0% increase in passenger demand year-over-year, totaling 2.8 million passengers. Capacity grew by 17.4%, leading to a record load factor of 89.7%. Domestic demand rose by 19.5% and international demand by 28.7%. Year-to-date, demand climbed 29.1%, reflecting resilience in both domestic and international markets, while the company moderated base fares in sensitive domestic markets and raised fares internationally in response to rising fuel costs.
Volaris reported Q3 2022 operating revenue of $769 million, a 20% increase year-over-year. Despite this growth, total operating expenses surged 52% to $734 million, largely due to a 72.2% spike in fuel costs. Net income dropped 47% to $40 million, with EBITDAR plummeting 33% to $175 million. The airline's load factor improved to 85.6%, amidst increased capacity and passenger traffic, up 22.2% to 8.1 million. The company maintains a strong balance sheet with $750 million in cash and plans for continued growth despite macroeconomic challenges.
Volaris (NYSE: VLRS) reported its September 2022 traffic results, showing a 25.2% year-over-year demand growth with a record 87.4% load factor. Capacity increased by 17.2%, transporting 2.6 million passengers, a 24.4% rise from the previous year. Domestic demand grew 21.8% and international demand by 34.7%. Year-to-date demand surged 30.0%, with load factors improving to 84.9%. CEO Enrique Beltranena expressed confidence in maintaining high demand and load factors through the year.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS) reported strong traffic results for August 2022. Capacity rose 19.8% year-over-year, with demand increasing by 20.0%, leading to a load factor of 84.9%. The airline transported 2.7 million passengers, a 20.1% increase from the previous year. Domestic demand surged by 18.7%, while international demand grew by 23.4%. Year-to-date demand is up 30.7%, with a load factor of 84.6%. CEO Enrique Beltranena emphasized the strength in market demand and the strategy of maintaining low fares.
Volaris (NYSE: VLRS) reported strong preliminary traffic results for July 2022. Capacity increased by 28.8% year-over-year, while demand rose by 21.9%, resulting in a load factor of 84.7%. The airline transported 2.8 million passengers, reflecting a 22.2% growth compared to July 2021. Domestic passenger demand surged by 22.8%, and international demand grew by 19.6%. Year-to-date, demand climbed 32.2%. CEO Enrique Beltranena emphasized careful capacity management amid high jet fuel prices, aiming for profitability in strategic routes.
Volaris (NYSE: VLRS) reported a 20% increase in total operating revenue for Q2 2022, totaling $691 million. However, it faced a net loss of $49 million due to soaring operating expenses, which rose by 61% to $710 million. Average economic fuel costs surged by 107% to $4.4 per gallon, dramatically impacting EBITDAR, which decreased by 54% to $107 million. The net debt-to-EBITDAR ratio improved to 2.9x. Despite challenging conditions, Volaris aims for a capacity growth of 23-25% for FY 2022, while adjusting its EBITDAR margin guidance downward.
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