Volaris Reports Financial Results for the Second Quarter 2022
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.
- Total operating revenue increased by 20% to $691 million.
- Capacity growth guidance for FY 2022 is set at 23-25%.
- Cash position remains strong at $759 million, representing 30% of last year's total revenue.
- Improvement in net debt-to-EBITDAR ratio to 2.9x from 4.5x.
- Net loss of $49 million, compared to a profit of $77 million in Q2 2021.
- Total operating expenses surged by 61% to $710 million, driven by high fuel costs.
- EBITDAR decreased by 54% to $107 million, with a margin drop of 25.3 percentage points.
MEXICO CITY, July 21, 2022 /PRNewswire/ -- Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) ("Volaris" or "The Company"), the ultra-low-cost airline serving Mexico, the United States of America, Central and South America, today announces its financial results for the second quarter 20221.
Second Quarter 2022 Highlights2
(All figures are reported in U.S. dollars and compared to 2Q 2021 unless otherwise noted)
Volaris reported double-digit growth in revenue, kept CASM ex-fuel controlled at industry-leading levels, and maintained a strong liquidity position and a healthy balance sheet during the second quarter. Volaris' EBITDAR margin was impacted by rapidly rising fuel prices that increased at a rate faster than its TRASM.
- Total operating revenue of
$691 million , a20% increase. Total revenue per available seat mile (TRASM) remained flat at$8.3 cents. - Total operating expenses of
$710 million , a61% increase. Total operating expenses per available seat mile (CASM) increased35% to$8.5 cents, while CASM ex-fuel decreased1% to$4.2 cents. Average economic fuel cost increased107% to$4.4 per gallon. - Net loss of
$49 million . Loss per share of$0.04 and loss per ADS of$0.42 . - EBITDAR of
$107 million , a54% decrease. EBITDAR margin was15.5% , a decrease of 25.3 percentage points. - Cash generation of
$9 million , with. cash, cash equivalents and restricted cash position of$759 million , representing30% of the last twelve months total operating revenue. - Net debt-to-LTM EBITDAR ratio of 2.9 times, compared to 4.5 times.
"During the quarter, the Company passed on a portion of higher jet fuel prices through fare increases or, in certain cases, reallocated flights to more profitable routes, while efficiently controlling ex-fuel costs. Volaris has always been disciplined about adding capacity to match passenger demand and has demonstrated flexibility to adapt capacity," said Enrique Beltranena, Chief Executive Officer. "We will continue with our strategy of disciplined growth and will remain nimble and respond decisively to any changes in market conditions in the coming months. We have grown quickly in the last two years allowing us to fill the void left by some of our competitors and, considering we have met our objectives, will return to our historic growth rate during 2023," Mr. Beltranena added.
Second Quarter 2022 Financial and Operations Highlights3
(All figures are reported in U.S. dollars and compared to 2Q 2021 unless otherwise noted)
Second Quarter | |||
Consolidated Financial Highlights | 2022 | 2021 | Var. |
Total operating revenue (millions) | 691 | 574 | 20 % |
TRASM (cents) | 8.3 | 8.2 | 0 % |
ASMs (millions, scheduled & charter) | 8,361 | 7,028 | 19 % |
Load factor (scheduled, RPMs/ASMs) | 85.6 % | 86.6 % | (1.0) pp |
Passengers (thousand, scheduled & charter) | 7,463 | 6,202 | 20 % |
Fleet (end of period) | 113 | 92 | 21 |
Total operating expenses (millions) | 710 | 442 | 61 % |
CASM (cents) | 8.5 | 6.3 | 35 % |
CASM excl. fuel (cents) | 4.2 | 4.2 | (1 %) |
Operating (loss) income (EBIT) (millions) | (20) | 132 | N/A |
% EBIT margin | (2.8 %) | 23.0 % | (25.8) pp |
Net (loss) income (millions) | (49) | 77 | N/A |
% Net (loss) income margin | (7.1 %) | 13.4 % | (20.5) pp |
EBITDAR (millions) | 107 | 234 | (54 %) |
% EBITDAR margin | 15.5 % | 40.8 % | (25.3) pp |
Net debt-to-EBITDAR | 2.9x | 4.5x | -1.6x |
*Note: Figures are rounded for convenience purposes.
Total operating revenue in the quarter was
Volaris transported 7.5 million passengers in the quarter, an increase of
TRASM remained flat at
Total operating expenses in the quarter were
Comprehensive financing result represented a loss of
In the second quarter, the Mexican peso remained flat against the U.S. dollar to an average of Ps.20.04 per U.S. dollar. At the end of the quarter, the Mexican peso stood at Ps.19.98 per US dollar, similar level registered at the end of the first quarter of 2022.
Income tax benefit was
Net loss in the quarter was
EBITDAR was
Balance Sheet, Liquidity and Capital Allocation
During the second quarter, Volaris generated
On June 30th, 2022, net debt was
Full Year 2022 Outlook
Despite the global macroeconomic and geopolitical challenges, demand remains robust throughout Volaris' network. Accordingly, Volaris expects to continue with its growth plans while closely monitoring demand trends.
Given a higher-than-expected increase in fuel prices compared to its prior forecast, Volaris is updating its full year 2022 guidance. Of note, the Company:
- Adjusts its capacity growth guidance (ASMs) to 23
-25% compared to 2021. - Holds its total operating revenue in the range of
$2.8 to$3.0 billion for 2022. - Continues expecting a full year CASM ex-fuel growth between
1% and3% compared to 2021. - Decreased its EBITDAR margin guidance from high twenties to low twenties.
- Confirms CAPEX in the range of
$140 to$145 million .
This outlook assumes a full year average USD/MXN rate between Ps.20.50 to Ps.20.70 and an average economic fuel price between
Fleet
During the second quarter, the Company incorporated 9 new A320neo family aircraft (5 A320neo and 4 A321neo) to its fleet. As of June 30th, 2022, Volaris' fleet was composed of 113 aircraft (6 A319s, 86 A320s and 21 A321s), of which
Investors are urged to carefully read the Company's periodic reports filed with or provided to the Securities and Exchange Commission, for additional information regarding the Company
Investor Relations Contact:
Félix Martínez / Naara Cortés Gallardo / ir@volaris.com
Media Contact:
Gabriela Fernández / gabriela.fernandez@volaris.com
Conference call and webcast details
Date: | Friday, July 22nd, 2022 |
Time: | 9:00 am Mexico City (CT) / 10:00 am New York (USA) (ET) |
United States dial in: | +1-844-204-8586 |
Mexico dial in: | +52-55-8880-8040 |
International dial in: | +1-412-317-6346 |
Participant code: | Volaris |
Webcast & video presentation: | https://webcastlite.mziq.com/cover.html?webcastId=1286ed9c-0a4f-4700-8c64-079315e26517
|
About Volaris:
*Controladora Vuela Compañía de Aviación, S.A.B. de C.V. ("Volaris" or the "Company") (NYSE: VLRS and BMV: VOLAR), is an ultra-low-cost carrier, with point-to-point operations, serving Mexico, the United States, Central and South America. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since the beginning of operations in March 2006, Volaris has increased its routes from 5 to more than 205 and its fleet from 4 to 113 aircraft. Volaris offers more than 500 daily flight segments on routes that connect 45 cities in Mexico and 28 cities in the United States, Central and South America with the youngest fleet in Mexico. Volaris targets passengers who are visiting friends and relatives, cost-conscious business and leisure travelers in Mexico, the United States, Central and South America. Volaris has received the ESR Award for Social Corporate Responsibility for thirteen consecutive years. For more information, please visit: www.volaris.com.
Forward-looking Statements:
Statements in this release contain various forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended, which represent the Company's expectations, beliefs or projections concerning future events and financial trends affecting the financial condition of our business. When used in this release, the words "expects," "intends," "estimates," "predicts," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "potential," "outlook," "may," "continue," "will," "should," "seeks," "targets" and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Company's intentions and expectations regarding the delivery schedule of aircraft on order, announced new service routes and customer savings programs. Forward-looking statements should not be read as a guarantee or assurance of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements are subject to several factors that could cause the Company's actual results to differ materially from the Company's expectations, including the competitive environment in the airline industry; the Company's ability to keep costs low; changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket revenue; and government regulation. Additional information concerning these, and other factors is contained in the Company's US Securities and Exchange Commission filings. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date of this release. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Financial and Operating Indicators
Unaudited | Three months ended June 30, 2022 | Three months ended June 30, 2021 | Variance | ||
Total operating revenues (millions) | 691 | 574 | 20.3 % | ||
Total operating expenses (millions) | 710 | 442 | 60.7 % | ||
EBIT (millions) | (20) | 132 | N/A | ||
EBIT margin | (2.8 %) | 23.0 % | (25.8) pp | ||
Depreciation and amortization (millions) | 102 | 78 | 30.6 % | ||
Aircraft and engine variable lease expenses (millions) | 25 | 24 | 3.7 % | ||
Net (loss) income (millions) | (49) | 77 | N/A | ||
Net (loss) income margin | (7.1 %) | 13.4 % | (20.5) pp | ||
(Loss) earnings per share: | |||||
Basic | (0.04) | 0.07 | N/A | ||
Diluted | (0.04) | 0.07 | N/A | ||
(Loss) earnings per ADS: | |||||
Basic | (0.42) | 0.66 | N/A | ||
Diluted | (0.42) | 0.66 | N/A | ||
Weighted average shares outstanding: | |||||
Basic | 1,165,976,677 | 1,165,976,677 | 0.0 % | ||
Diluted | 1,165,976,677 | 1,165,976,677 | 0.0 % | ||
Available seat miles (ASMs) (millions) (1) | 8,361 | 7,028 | 19.0 % | ||
Domestic | 5,844 | 5,012 | 16.6 % | ||
International | 2,517 | 2,016 | 24.9 % | ||
Revenue passenger miles (RPMs) (millions) (1) | 7,156 | 6,082 | 17.6 % | ||
Domestic | 5,189 | 4,424 | 17.3 % | ||
International | 1,967 | 1,658 | 18.6 % | ||
Load factor (2) | 85.6 % | 86.6 % | (1.0) pp | ||
Domestic | 88.8 % | 88.3 % | 0.5 pp | ||
International | 78.1 % | 82.3 % | (4.1) pp | ||
Total operating revenue per ASM (TRASM) (cents) (1)(4) | 8.3 | 8.2 | 0.3 % | ||
Total ancillary revenue per passenger (3)(4) | 37 | 39 | (5.9 %) | ||
Total operating revenue per passenger (4) | 93 | 93 | (0.8 %) | ||
Operating expenses per ASM (CASM) (cents) (1)(4) | 8.50 | 6.31 | 34.6 % | ||
CASM ex fuel (cents) (1)(4) | 4.20 | 4.23 | (0.7 %) | ||
Booked passengers (thousands) (1) | 7,463 | 6,202 | 20.3 % | ||
Departures (1) | 46,576 | 38,658 | 20.5 % | ||
Block hours (1) | 118,887 | 96,721 | 22.9 % | ||
Fuel gallons consumed (millions) | 81.91 | 69.06 | 18.6 % | ||
Average economic fuel cost per gallon (4) | 4.39 | 2.13 | 106.5 % | ||
Aircraft at end of period | 113 | 92 | 21 | ||
Average aircraft utilization (block hours) | 13.22 | 12.95 | 2.1 % | ||
Average exchange rate | 20.04 | 20.05 | 0.0 % | ||
End of period exchange rate | 19.98 | 19.80 | 0.9 % | ||
(1) Includes schedule and charter. (3) Includes "Other passenger revenues" and "non-passenger revenues". | |||||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Financial and Operating Indicators
Unaudited | Six months ended June 30, 2022 | Six months ended June 30, 2021 | Variance | ||
Total operating revenues (millions) | 1,258 | 889 | 41.5 % | ||
Total operating expenses (millions) | 1,309 | 793 | 65.0 % | ||
EBIT (millions) | (51) | 96 | N/A | ||
EBIT margin | (4.0 %) | 10.8 % | (14.8) pp | ||
Depreciation and amortization (millions) | 197 | 155 | 27.5 % | ||
Aircraft and engine rent expenses (millions) | 58 | 47 | 22.8 % | ||
Net (loss) income (millions) | (98) | 41 | N/A | ||
Net (loss) income margin | (7.8 %) | 4.6 % | (12.4) pp | ||
(Loss) earnings per share: | |||||
Basic | (0.08) | 0.03 | N/A | ||
Diluted | (0.08) | 0.03 | N/A | ||
(Loss) earnings per ADS: | |||||
Basic | (0.84) | 0.35 | N/A | ||
Diluted | (0.84) | 0.35 | N/A | ||
Weighted average shares outstanding: | |||||
Basic | 1,165,976,677 | 1,165,976,677 | 0.0 % | ||
Diluted | 1,165,976,677 | 1,165,976,677 | 0.0 % | ||
Available seat miles (ASMs) (millions) (1) | 16,422 | 12,407 | 32.4 % | ||
Domestic | 11,526 | 9,050 | 27.4 % | ||
International | 4,896 | 3,357 | 45.8 % | ||
Revenue passenger miles (RPMs) (millions) (1) | 13,884 | 10,284 | 35.0 % | ||
Domestic | 10,084 | 7,680 | 31.3 % | ||
International | 3,800 | 2,604 | 45.9 % | ||
Load factor (2) | 84.5 % | 82.9 % | 1.7 pp | ||
Domestic | 87.5 % | 84.9 % | 2.6 pp | ||
International | 77.6 % | 77.5 % | 0.1 pp | ||
Total operating revenue per ASM (TRASM) (cents) (1)(4) | 7.7 | 7.3 | 5.6 % | ||
Total ancillary revenue per passenger (3)(4) | 36 | 39 | (6.9 %) | ||
Total operating revenue per passenger (4) | 87 | 86 | 1.3 % | ||
Operating expenses per ASM (CASM) (cents) (1)(4) | 7.97 | 6.43 | 23.9 % | ||
CASM ex fuel (cents) (1)(4) | 4.30 | 4.46 | (3.6 %) | ||
Booked passengers (thousands) (1) | 14,452 | 10,474 | 38.0 % | ||
Departures (1) | 91,514 | 67,620 | 35.3 % | ||
Block hours (1) | 232,300 | 169,893 | 36.7 % | ||
Fuel gallons consumed (millions) | 159.13 | 119.86 | 32.8 % | ||
Average economic fuel cost per gallon (4) | 3.79 | 2.04 | 85.7 % | ||
Aircraft at end of period | 113 | 92 | 21 | ||
Average aircraft utilization (block hours) | 13.24 | 11.82 | 12.0 % | ||
Average exchange rate | 20.28 | 20.18 | 0.5 % | ||
End of period exchange rate | 19.98 | 19.80 | 0.9 % | ||
(1) Includes schedule and charter. (3) Includes "Other passenger revenues" and "non-passenger revenues". | |||||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Operations
Unaudited | Three months ended June 30, 2022 | Three months ended June 30, 2021 | Variance | ||
Operating revenues: | |||||
Passenger revenues | 664 | 556 | 19.4 % | ||
Fare revenues | 416 | 336 | 23.8 % | ||
Other passenger revenues | 248 | 220 | 12.7 % | ||
Non-passenger revenues | 27 | 23 | 17.8 % | ||
Other non-passenger revenues | 23 | 20 | 18.1 % | ||
Cargo | 3 | 3 | 15.9 % | ||
Non-derivative financial instruments | - | (5) | (100.0 %) | ||
Total operating revenues | 691 | 574 | 20.3 % | ||
Other operating income | (13) | (2) | 496.5 % | ||
Fuel expense, net (1) | 359 | 145 | 147.9 % | ||
Landing, take-off and navigation expenses | 92 | 76 | 19.8 % | ||
Depreciation of right of use assets | 80 | 66 | 21.6 % | ||
Salaries and benefits | 66 | 58 | 13.0 % | ||
Sales, marketing and distribution expenses | 28 | 24 | 17.6 % | ||
Maintenance expenses | 26 | 24 | 6.2 % | ||
Aircraft and engine rent expense | 25 | 24 | 3.7 % | ||
Other operating expenses | 26 | 15 | 78.3 % | ||
Depreciation and amortization | 22 | 12 | 78.8 % | ||
Operating expenses | 710 | 442 | 60.7 % | ||
Operating (loss) income | (20) | 132 | N/A | ||
Finance income | 2 | 1 | 62.4 % | ||
Finance cost | (44) | (32) | 39.4 % | ||
Exchange (loss) gain, net | (18) | 8 | N/A | ||
Comprehensive financing result | (61) | (22) | 172.5 % | ||
Loss (income) before income tax | (81) | 110 | N/A | ||
Income tax benefit (expense) | 32 | (33) | N/A | ||
Net (loss) income | (49) | 77 | N/A | ||
(1) 2Q 2021 figures include a benefit from non-derivatives financial instruments by an amount of | |||||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Operations
Unaudited | Six months ended June 30, 2022 | Six months ended June 30, 2021 | Variance |
(In millions of U.S. dollars) | |||
Operating revenues: | |||
Passenger revenues | 1,206 | 858 | 40.6 % |
Fare revenues | 738 | 495 | 49.1 % |
Other passenger revenues | 468 | 363 | 29.0 % |
Non-passenger revenues | 52 | 42 | 24.8 % |
Other non-passenger revenues | 45 | 36 | 26.2 % |
Cargo | 7 | 6 | 16.3 % |
Non-derivative instruments | - | (10) | (100.0 %) |
Total operating revenues | 1,258 | 889 | 41.5 % |
Other operating income | (16) | (5) | 189.2 % |
Fuel expense, net (1) | 603 | 240 | 151.6 % |
Landing, take-off and navigation expenses | 183 | 136 | 34.9 % |
Depreciation of right of use assets | 155 | 130 | 19.1 % |
Salaries and benefits | 133 | 106 | 25.5 % |
Aircraft and engine rent expense | 58 | 47 | 22.8 % |
Sales, marketing and distribution expenses | 53 | 41 | 27.6 % |
Maintenance expenses | 51 | 45 | 14.2 % |
Other operating expenses | 46 | 29 | 59.1 % |
Depreciation and amortization | 42 | 25 | 71.3 % |
Operating expenses | 1,309 | 793 | 65.0 % |
Operating (loss) income | (51) | 96 | N/A |
Finance income | 2 | 2 | 45.6 % |
Finance cost | (91) | (60) | 53.3 % |
Exchange (loss) gain, net | (5) | 20 | N/A |
Comprehensive financing result | (94) | (38) | 149.0 % |
Loss (income) before income tax | (145) | 58 | N/A |
Income tax benefit (expense) | 47 | (17) | N/A |
Net (loss) income | (98) | 41 | N/A |
(1) June YTD 2021 figures include a benefit from non-derivative financial instruments by an amount of | |||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Reconciliation of total ancillary revenue per passenger
The following table shows quarterly additional detail about the components of total ancillary revenue:
Unaudited | Three months ended June 30, 2022 | Three months ended June 30, 2021 | Variance |
(In millions of U.S. dollars) | |||
Other passenger revenues | 248 | 220 | 12.7 % |
Non-passenger revenues | 27 | 23 | 17.8 % |
Total ancillary revenues | 275 | 243 | 13.2 % |
Booked passengers (thousands) (1) | 7,463 | 6,202 | 20.3 % |
Total ancillary revenue per passenger | 37 | 39 | (5.9 %) |
(1) Includes schedule and charter. | |||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Reconciliation of total ancillary revenue per passenger
The following table shows the first one half of the year additional detail about the components of total ancillary revenue:
Unaudited | Six months ended June 30, 2022 | Six months ended June 30, 2021 | Variance |
(In millions of U.S. dollars) | |||
Other passenger revenues | 468 | 363 | 29.0 % |
Non-passenger revenues | 52 | 42 | 24.8 % |
Total ancillary revenues | 520 | 404 | 28.5 % |
Booked passengers (thousands) (1) | 14,452 | 10,474 | 38.0 % |
Total ancillary revenue per passenger | 36 | 39 | (6.9 %) |
(1) Includes schedule and charter. | |||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Financial Position
(In millions of U.S. dollars) | June 30, | December 31, | ||
Assets | ||||
Cash, cash equivalents and restricted cash | 759 | 741 | ||
Accounts receivable, net | 275 | 106 | ||
Inventories | 15 | 14 | ||
Prepaid expenses and other current assets | 44 | 38 | ||
Guarantee deposits | 67 | 79 | ||
Total current assets | 1,160 | 978 | ||
Rotable spare parts, furniture and equipment, net | 402 | 455 | ||
Right of use assets | 2,160 | 1,917 | ||
Intangible assets, net | 12 | 13 | ||
Derivatives Financial Instruments | 2 | 1 | ||
Deferred income taxes | 194 | 141 | ||
Guarantee deposits | 456 | 455 | ||
Other long- term assets | 31 | 23 | ||
Total non-current assets | 3,257 | 3,005 | ||
Total assets | 4,417 | 3,983 | ||
Liabilities | ||||
Unearned transportation revenue | 418 | 304 | ||
Accounts payable | 155 | 119 | ||
Accrued liabilities | 265 | 178 | ||
Lease Liabilities | 281 | 284 | ||
Other taxes and fees payable | 260 | 131 | ||
Income taxes payable | 12 | 4 | ||
Financial debt | 49 | 197 | ||
Other liabilities | 21 | 35 | ||
Total short-term liabilities | 1,461 | 1,252 | ||
Financial debt | 154 | 108 | ||
Accrued liabilities | - | 1 | ||
Lease Liabilities | 2,355 | 2,128 | ||
Other liabilities | 223 | 167 | ||
Employee benefits | 4 | 4 | ||
Deferred income taxes | 10 | 11 | ||
Total long-term liabilities | 2,746 | 2,419 | ||
Total liabilities | 4,207 | 3,671 | ||
Equity | ||||
Capital stock | 248 | 248 | ||
Treasury shares | (10) | (9) | ||
Contributions for future capital increases | - | - | ||
Legal reserve | 17 | 17 | ||
Additional paid-in capital | 283 | 281 | ||
Accumulated deficit | (174) | (76) | ||
Accumulated other comprehensive loss | (154) | (149) | ||
Total equity | 210 | 312 | ||
Total liabilities and equity | 4,417 | 3,983 | ||
Weighted average shares outstanding | 1,165,976,677 | 1,165,976,677 | ||
(*) Unaudited USD figures. | ||||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Cash Flows – Cash Flow Data Summary
Unaudited | Three months ended June 30, 2022 | Three months ended June 30, 2021 | ||
Net cash flow provided by operating activities | 158 | 314 | ||
Net cash flow provided by (used in) investing activities | 30 | (40) | ||
Net cash flow used in financing activities** | (183) | (154) | ||
Increase in cash, cash equivalents and restricted cash | 5 | 120 | ||
Net foreign exchange differences | 4 | (11) | ||
Cash, cash equivalents and restricted cash at beginning of period | 750 | 423 | ||
Cash, cash equivalents and restricted cash at end of period | 759 | 532 | ||
**Includes aircraft rental payments of | ||||
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Cash Flows – Cash Flow Data Summary
Unaudited | Six months ended June 30, 2022 | Six months ended June 30, 2021 |
(In millions of U.S. dollars) | ||
Net cash flow provided by operating activities | 353 | 331 |
Net cash flow provided by (used in) investing activities | 24 | (49) |
Net cash flow used in financing activities ** | (366) | (259) |
Increase in cash, cash equivalents and restricted cash | 11 | 23 |
Net foreign exchange differences | 7 | (1) |
Cash, cash equivalents and restricted cash at beginning of period | 741 | 510 |
Cash, cash equivalents and restricted cash at end of period | 759 | 532 |
**Includes aircraft rental payments of | ||
1 The financial information, unless otherwise indicated, is presented in accordance with the International Financial Reporting Standards (IFRS).
2 As of January 1, 2022, all figures are reported in U.S. dollars.
3 As of January 1, 2022, all figures are reported in U.S. dollars.
View original content to download multimedia:https://www.prnewswire.com/news-releases/volaris-reports-financial-results-for-the-second-quarter-2022-301591463.html
SOURCE Controladora Vuela Compania de Aviacion, S.A.B. de C.V. - Volaris
FAQ
What were Volaris' Q2 2022 revenue figures?
What was the net loss for Volaris in Q2 2022?
How much did operating expenses rise for Volaris in Q2 2022?
What is the guidance for Volaris' EBITDAR margin in 2022?
What is Volaris' capacity growth outlook for 2022?
