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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).
On July 6, 2022, Volaris (NYSE: VLRS) announced its preliminary traffic results for June 2022. The airline reported a 10.4% increase in passengers transported, reaching 2.4 million, compared to June 2021. Capacity also rose by 17.2%, resulting in a load factor of 84.4%, down 4.7 percentage points year-over-year. Domestic and international passenger demand increased by 9.9% and 13.5%, respectively. Year-to-date, demand has surged 34.5% YoY, signaling ongoing recovery and growth.
Volaris (NYSE: VLRS) reported a robust performance for May 2022, showcasing a 12.4% increase in capacity and a 12.3% rise in demand year-over-year, achieving a consistent 87.8% load factor. The airline transported 2.5 million passengers, marking a 17.5% jump from May 2021, while expanding its fleet from 87 to 110 aircraft. Domestic passenger demand rose by 15.6%, with international traffic up 4.1%. Year-to-date, demand surged 41.2%, reflecting strong market positioning and effective management amid rising fuel costs.
Volaris (NYSE: VLRS) reported strong preliminary traffic results for April 2022. The airline's capacity rose by 28.1% year-over-year, with demand increasing by 31.6%. Volaris transported 2.6 million passengers, a 34.6% increase from April 2021, achieving a load factor of 84.6% (+2.3 pp YoY). Domestic passenger demand grew by 26.8%, while international demand surged by 48.3%. Year-to-date, passenger numbers have risen by 54.7% compared to the first four months of 2021, indicating a solid recovery in the airline sector.
Controladora Vuela Compañía de Aviación (NYSE: VLRS) reported impressive financial results for Q1 2022, achieving total operating revenue of $567 million, an 80% increase year-over-year. The airline maintained strong liquidity, ending the quarter with $750 million in cash, representing 31% of total operating revenue.
However, Volaris posted a net loss of $49 million and a 17.0% EBITDAR margin, a decline from the previous year. Despite rising fuel costs, the company expects full-year capacity growth in the mid-twenties compared to 2021 and improved revenue guidance of $2.8 to $3.0 billion.
On April 27, 2022, Volaris (NYSE: VLRS) reported the outcomes of its general ordinary annual shareholders meeting held on April 26. The meeting authorized all agenda items, including the approval of financial statements for the fiscal year ending December 31, 2021, which revealed a net profit of MXN$2.12 billion. Furthermore, it was decided that no funds would be allocated for share buybacks in 2022. Key board members were ratified, and resolutions concerning compensation for directors and committee members were also approved.
On April 26, 2022, Volaris (NYSE: VLRS) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC. The report details Volaris' significant growth since its inception in March 2006, expanding its routes from 5 to over 188 and its fleet from 4 to 105 aircraft. The airline operates more than 500 daily flights connecting Mexico, the United States, and Central and South America. Shareholders can access the report via the SEC website or request a hard copy from Investor Relations.
Controladora Vuela Compañía de Aviación (NYSE: VLRS) has rescheduled its conference call to discuss first-quarter 2022 results for April 28, 2022, at 10:00 a.m. CT. This adjustment avoids conflict with another airline's call. Volaris will issue its earnings release after market close on April 27, 2022. Participants should connect 10 minutes early to ensure attendance. The call will also be accessible via webcast and replay afterward through the Company's Investor Relations website.
Volaris (NYSE: VLRS) has announced a summons for its general ordinary annual shareholders' meeting scheduled for April 26, 2022, in Mexico City. This meeting is mandatory under Mexican law for discussing corporate matters. The agenda includes the approval of financial statements for the fiscal year ending December 31, 2021, allocation of results, appointments of board members, and compensation resolutions. Shareholders must register to attend and comply with specific requirements to ensure their participation. Health protocols will be observed due to COVID-19.
CDB Aviation has entered a sale and leaseback agreement with Volaris for five Airbus aircraft, increasing the leased fleet to thirteen. The deal includes two A320neos and three A321neos, with four already delivered and nine expected by Q4 2024. This collaboration supports Volaris' growth and sustainability strategy, aligning with their goal of maintaining a young, fuel-efficient fleet. The partnership aims to enhance operational performance in the competitive Mexican market.
Volaris (NYSE: VLRS) reported a significant increase in traffic for March 2022, with capacity up by 61.2% YoY and demand rising 60.4% YoY. The airline transported 2.5 million passengers, a 61.8% increase from the previous year. Domestic and international passenger demand surged by 45.6% and 123.0%, respectively. For Q1 2022, Volaris' capacity rose 49.8% YoY with a load factor of 83.5%, reflecting strong performance in matching capacity to demand despite rising fuel costs. The average fuel price increased by 69.8% to $3.60 per gallon.
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