Volaris reports third quarter financial results, with net income of $37 million

From GlobeNewswire: 2024-10-22 19:48:00

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS) reports third quarter 2024 financial results. Highlights include net income of $37 million, total operating revenues of $813 million, and EBITDAR of $315 million. The company remains focused on providing ULCC service amid challenges, with strong booking trends for the fall and holiday season.

In the third quarter, Volaris saw a 4.1% decrease in total operating revenues to $813 million, despite a 14.4% reduction in available seat miles due to engine inspections. Booked passengers totaled 7.6 million with a load factor of 87.4%. TRASM increased by 12% to $9.38 cents and CASM ex fuel rose by 9.9% to $5.39 cents.

For the fourth quarter of 2024, Volaris expects ASM growth of around -7%, TRASM of approximately $9.6 cents, and EBITDAR margin of around 39%. The full year 2024 guidance includes ASM growth of approximately -13% and EBITDAR margin of around 36%. The company’s outlook considers compensation for grounded aircraft due to engine inspections.

During the third quarter, Volaris added one A320neo aircraft to its fleet, bringing the total to 137 aircraft with an average age of 6.3 years. The fleet consists of 60% NEO models. Investors are encouraged to review the company’s periodic reports for additional information. A conference call to discuss the results will be held on October 23, 2024, at 9:00 am Mexico City time.



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