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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 October 13, 2021, Volaris (NYSE: VLRS) announced the successful completion of an offering of 15 million asset-backed trust notes, totaling $1.5 billion pesos. These notes, designated as VOLATRCB 21L, are backed by future collection rights from credit card ticket sales. Rated 'HR AA (E)' and 'AA+/M(e)' by leading agencies, they have a five-year maturity and an interest rate of TIIE + 200 basis points. This represents the second offering under a program approved for up to $3 billion pesos.
On October 5, 2021, Volaris (NYSE: VLRS) announced its preliminary traffic results for September 2021. The airline experienced a 21.0% increase in domestic passenger demand and an 18.9% rise in international demand compared to September 2019. Volaris transported 2.1 million passengers, marking an 18% increase from pre-pandemic levels. Capacity increased by 22.2% domestically and 21.7% internationally, achieving a load factor of 81.8%.
On September 7, 2021, Volaris (NYSE: VLRS) announced strong preliminary traffic results for August 2021. Demand surged, with domestic traffic up 29.4% and international traffic rising 13.9% compared to August 2019. The airline reported a total of 2.3 million passengers, a 22% increase from pre-pandemic levels. Capacity expanded by 28.5% domestically and 10.5% internationally, achieving a load factor of 84.8%. Volaris maintains its Q3 capacity growth guidance of 20-22% versus Q3 2019.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (Volaris) has received formal approval from the Civil Aviation Authority of El Salvador for its subsidiary, Vuela El Salvador, to operate as a national air carrier. Starting in September 2021, Volaris El Salvador will provide regular and non-regular international air transportation services. This expansion aims to extend Volaris' ultra-low-cost model across Central America, offering competitive base fares and enhancing service options in the region.
Volaris (NYSE: VLRS) reported strong preliminary traffic results for July 2021, achieving a 23.2% increase in domestic demand and 10.3% in international markets compared to July 2019. The airline transported 2.3 million passengers, marking a record month that is 16% higher than pre-pandemic levels. Load factor stood at 89.5%. Volaris anticipates a capacity growth of 20-22% for Q3 2021, despite concerns over the Delta variant, indicating resilient demand in the airline sector.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (Volaris) announced the appointment of KPMG as its independent external auditor, effective from the third quarter of 2021, replacing EY, who served for 15 years. The decision aligns with best corporate practices as per the Mexican Code of Corporate Governance Principles. Volaris acknowledges EY's professional service during their tenure and will continue a business relationship for other services. The company's future performance remains uncertain and dependent on multiple factors.
Volaris (NYSE: VLRS) reported robust Q2 2021 results, showcasing a 38% increase in total operating revenue to Ps.11,501 million compared to Q2 2019. Net income surged by 1,188% to Ps.1,538 million, with an improved net margin of 13.4%. The airline's EBITDAR climbed 103% to Ps.4,696 million, achieving a margin of 40.8%. Passenger volume reached 6.2 million, marking a 10% growth. Cash and cash equivalents stood at Ps.10,534 million, which is 44% of the last twelve months' operating revenue. Volaris is on track to enhance its fleet with more A320neo aircraft, aligning with sustainability goals.
Controladora Vuela Compañía de Aviación (NYSE: VLRS) will release its Q2 2021 earnings after market close on July 15, 2021. Management will conduct a conference call on July 16, 2021, at 10:00 AM ET to discuss the results. The earnings report will be available on the Company’s website. Participants must connect 10 minutes before the call. A replay will be available via webcast afterward. Volaris operates as an ultra-low-cost airline serving Mexico, the U.S., and Central America, managing over 180 routes with a fleet of 93 aircraft.
Volaris (NYSE: VLRS) reported significant growth in its June 2021 traffic results, with passenger demand increasing 18.9% domestically and 15.5% internationally compared to June 2019. The airline transported 2.1 million passengers, reflecting a 14% rise over pre-pandemic levels. Volaris added 20% capacity domestically and 14.2% internationally, achieving a robust load factor of 89.1%. Cumulatively, the airline's operations show a recovery in air travel demand, essential for future profitability.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS) will announce its Q2 2021 earnings on July 15, 2021, after market close. A conference call to discuss results is scheduled for July 16, 2021, at 10:00 a.m. ET. The call will feature key executives including Enrique Beltranena, CEO, and Jaime Pous, CFO. Participants can dial in via provided numbers for the US, Mexico, and international locations. The earnings release will be accessible on the investor relations section of Volaris's website.
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