Source: Volaris
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (“Volaris” or “the Company”), the ultra-low-cost carrier (ULCC) serving Mexico, the United States, Central and South America, today reports its unaudited financial results for the fourth quarter and full year of 2024 (
Fourth Quarter 2024 Highlights (All figures are reported in U.S. dollars and compared to 4Q 2023 unless otherwise noted)
- Net income of $46 million. Earnings per American Depositary Shares (ADS) of $40 cents.
- Total operating revenues of $835 million, a 7% decrease.
- Total revenue per available seat mile (TRASM) decreased 2% to $9.35 cents. Available seat miles (ASMs) decreased by 5% to 8.9 billion.
- Total operating expenses of $718 million, representing 86% of total operating revenue.
- Total operating expenses per available seat mile (CASM) increased 3% at $8.04 cents.
- Average economic fuel cost decreased 20% to $2.51 per gallon.
- CASM ex fuel increased 17% to $5.68 cents.
- EBITDAR of $331 million, an 18% increase.
- EBITDAR margin was 39.6%, an increase of 8 percentage points.
- Total cash, cash equivalents, restricted cash, and short-term investments totaled $954 million, representing 30% of the last twelve months’ total operating revenue.
- Net debt-to-LTM EBITDAR2 ratio decreased to 2.6x, compared to 2.7x in the previous quarter.
Enrique Beltranena, President & Chief Executive Officer, said: “2024 was a remarkable year for Volaris. Despite continuous adversity from GTF engine inspections and aircraft groundings, we generated some of our best top and bottom-line results. Thanks to the work of our management team and Ambassadors, we posted a net profit each quarter and achieved a full-year EBITDAR margin of 36%. Throughout the year, we remained focused on reshaping the company, increasing profitability, and upholding our commitment to schedule integrity, customer preference and operational excellence. Looking ahead, we anticipate the ongoing engine inspections to affect a significant portion of our fleet not only in 2025, but also in 2026 and 2027. In response, we remain focused on harmonizing three critical areas to maximize return on investment: balancing unscheduled engine removals, inspections, and GTF engine returns; managing new aircraft arrivals from Airbus; and optimizing aircraft returns and lease extensions. For 2025, considering these three elements, our strategic approach will continue to prioritize profitability while reinforcing our position as the preferred airline in our core markets. We will maintain a rational and prudent approach to capacity growth in 2025, targeting an expansion of around 13%. Despite this growth, Volaris’ total capacity will remain below 2023 levels, with approximately 40% now allocated to the international market.