Volaris Reports Financial Results for the First Quarter 2025
Volaris (NYSE: VLRS) reported challenging Q1 2025 financial results, posting a net loss of $51 million with loss per ADS of $45 cents. Total operating revenues declined 12% to $678 million, while total revenue per available seat mile (TRASM) decreased 17% to $7.76 cents.
Key operational metrics showed mixed results: Available seat miles increased 6% to 8.7 billion, and passenger count grew 7.1% to 7.4 million. However, load factor decreased to 85.4%. The company's fleet expanded to 145 aircraft, with 61% being New Engine Option (NEO) models.
Financial position remains stable with $862 million in cash and equivalents, representing 28% of LTM operating revenue. The net debt-to-LTM EBITDAR ratio increased slightly to 2.7x. For 2025, Volaris updated guidance projecting 8-9% ASM growth, down from previous ~13% estimate, while maintaining CAPEX at ~$250 million.
Volaris (NYSE: VLRS) ha riportato risultati finanziari difficili nel primo trimestre 2025, registrando una perdita netta di 51 milioni di dollari con una perdita per ADS di 45 centesimi. I ricavi operativi totali sono diminuiti del 12% a 678 milioni di dollari, mentre il ricavo totale per miglio disponibile per posto (TRASM) è calato del 17% a 7,76 centesimi.
Le principali metriche operative hanno mostrato risultati contrastanti: i miglia disponibili per posto sono aumentati del 6% raggiungendo 8,7 miliardi, e il numero di passeggeri è cresciuto del 7,1% a 7,4 milioni. Tuttavia, il fattore di carico è sceso all’85,4%. La flotta della compagnia è cresciuta a 145 aeromobili, di cui il 61% sono modelli New Engine Option (NEO).
La posizione finanziaria rimane stabile con 862 milioni di dollari in liquidità e equivalenti, pari al 28% dei ricavi operativi degli ultimi dodici mesi (LTM). Il rapporto debito netto su EBITDAR LTM è aumentato leggermente a 2,7x. Per il 2025, Volaris ha aggiornato le previsioni prevedendo una crescita degli ASM dell’8-9%, in calo rispetto alla stima precedente di circa il 13%, mantenendo però il CAPEX intorno a 250 milioni di dollari.
Volaris (NYSE: VLRS) reportó resultados financieros desafiantes en el primer trimestre de 2025, registrando una pérdida neta de 51 millones de dólares con una pérdida por ADS de 45 centavos. Los ingresos operativos totales disminuyeron un 12% hasta 678 millones de dólares, mientras que los ingresos totales por milla asiento disponible (TRASM) bajaron un 17% hasta 7,76 centavos.
Las métricas operativas clave mostraron resultados mixtos: las millas asiento disponibles aumentaron un 6% hasta 8,7 mil millones, y el número de pasajeros creció un 7,1% hasta 7,4 millones. Sin embargo, el factor de ocupación disminuyó al 85,4%. La flota de la compañía se amplió a 145 aviones, de los cuales el 61% son modelos New Engine Option (NEO).
La posición financiera se mantiene estable con 862 millones de dólares en efectivo y equivalentes, representando el 28% de los ingresos operativos de los últimos doce meses (LTM). La ratio deuda neta a EBITDAR LTM aumentó ligeramente a 2,7x. Para 2025, Volaris actualizó sus previsiones proyectando un crecimiento del ASM del 8-9%, inferior a la estimación previa de aproximadamente 13%, manteniendo el CAPEX en alrededor de 250 millones de dólares.
Volaris (NYSE: VLRS)는 2025년 1분기 재무 실적에서 도전적인 결과를 보고했으며, 순손실 5,100만 달러와 ADS당 손실 45센트를 기록했습니다. 총 영업수익은 12% 감소한 6억 7,800만 달러였으며, 가용 좌석 마일당 총수익(TRASM)은 17% 감소한 7.76센트였습니다.
주요 운영 지표는 엇갈린 결과를 보였습니다: 가용 좌석 마일은 6% 증가한 87억 마일, 승객 수는 7.1% 증가한 740만 명이었으나, 적재율은 85.4%로 감소했습니다. 회사의 항공기 보유 대수는 145대로 늘어났으며, 이 중 61%가 New Engine Option (NEO) 모델입니다.
재무 상태는 안정적이며 현금 및 현금성 자산은 8억 6,200만 달러로 최근 12개월(LTM) 영업수익의 28%를 차지합니다. 순부채 대비 LTM EBITDAR 비율은 약간 상승해 2.7배가 되었습니다. 2025년을 위해 Volaris는 ASM 성장률을 기존 약 13%에서 8-9%로 하향 조정했으며, CAPEX는 약 2억 5천만 달러로 유지할 예정입니다.
Volaris (NYSE : VLRS) a publié des résultats financiers difficiles pour le premier trimestre 2025, enregistrant une perte nette de 51 millions de dollars avec une perte par ADS de 45 cents. Les revenus d'exploitation totaux ont diminué de 12 % pour atteindre 678 millions de dollars, tandis que le revenu total par siège-mille disponible (TRASM) a baissé de 17 % à 7,76 cents.
Les principaux indicateurs opérationnels ont montré des résultats mitigés : les sièges-milles disponibles ont augmenté de 6 % pour atteindre 8,7 milliards, et le nombre de passagers a progressé de 7,1 % pour atteindre 7,4 millions. Cependant, le coefficient d’occupation a diminué à 85,4 %. La flotte de la société s’est étendue à 145 avions, dont 61 % sont des modèles New Engine Option (NEO).
La position financière reste stable avec 862 millions de dollars en liquidités et équivalents, représentant 28 % des revenus d’exploitation sur les 12 derniers mois (LTM). Le ratio dette nette sur EBITDAR LTM a légèrement augmenté à 2,7x. Pour 2025, Volaris a révisé ses prévisions, projetant une croissance des ASM de 8-9 %, en baisse par rapport à l’estimation précédente d’environ 13 %, tout en maintenant les CAPEX à environ 250 millions de dollars.
Volaris (NYSE: VLRS) meldete herausfordernde Finanzergebnisse für das erste Quartal 2025 und verzeichnete einen Nettoverlust von 51 Millionen US-Dollar bei einem Verlust je ADS von 45 Cent. Die gesamten Betriebseinnahmen sanken um 12 % auf 678 Millionen US-Dollar, während der Gesamtumsatz pro verfügbarem Sitzplatzmeile (TRASM) um 17 % auf 7,76 Cent zurückging.
Wichtige operative Kennzahlen zeigten gemischte Ergebnisse: Die verfügbaren Sitzplatzmeilen stiegen um 6 % auf 8,7 Milliarden, und die Passagierzahl wuchs um 7,1 % auf 7,4 Millionen. Allerdings sank der Auslastungsfaktor auf 85,4 %. Die Flotte des Unternehmens wuchs auf 145 Flugzeuge, von denen 61 % New Engine Option (NEO)-Modelle sind.
Die finanzielle Lage bleibt stabil mit 862 Millionen US-Dollar an liquiden Mitteln und Äquivalenten, was 28 % der operativen Einnahmen der letzten zwölf Monate (LTM) entspricht. Das Verhältnis von Nettoverschuldung zu LTM EBITDAR stieg leicht auf 2,7x. Für 2025 hat Volaris die Prognose aktualisiert und erwartet ein ASM-Wachstum von 8-9 %, was unter der bisherigen Schätzung von etwa 13 % liegt, während die CAPEX bei etwa 250 Millionen US-Dollar bleibt.
- Passenger count increased 7.1% to 7.4 million
- Fleet expanded with addition of NEO aircraft, now comprising 61% of total fleet
- Strong liquidity position with $862 million cash reserves
- Average economic fuel cost decreased 13% to $2.63 per gallon
- CASM decreased 2.5% to $7.88 cents
- Net loss of $51 million in Q1 2025 vs $33 million profit in Q1 2024
- Total operating revenues declined 12% to $678 million
- TRASM decreased 17% to $7.76 cents
- Load factor decreased 1.6 percentage points to 85.4%
- Operating expenses reached 101% of total operating revenue
- EBITDAR declined 13.6% to $203 million
- Downward revision of ASM growth guidance from 13% to 8-9%
Insights
Volaris posts $51M Q1 loss with significant margin contraction; slashes capacity guidance amid Mexican peso depreciation and yield deterioration.
Volaris' Q1 2025 results reveal a dramatic shift in financial performance, with the Mexican ultra-low-cost carrier reporting a net loss of $51 million compared to a $33 million profit in Q1 2024 - a concerning 11.9 percentage point margin deterioration. The company's total operating revenues declined 11.7% to $678 million, despite carrying 7.1% more passengers, pointing to significant yield deterioration.
The revenue decline stems from two critical factors: the 20.2% depreciation of the Mexican peso against the US dollar and substantially lower fares. Average base fares plummeted 28.8% to just $39 per passenger, suggesting intense fare competition in their markets. While ancillary revenues remained relatively resilient (declining 6.9% to $53 per passenger), they couldn't offset the base fare collapse.
Most concerning is the cost-revenue imbalance - total operating expenses of $688 million exceeded total revenue at 101%, pushing Volaris into negative operating territory with a -1.5% EBIT margin. While CASM decreased 2.5% to 7.88 cents and fuel costs dropped 12.5%, CASM excluding fuel increased 4.5% to 5.40 cents due to higher aircraft redelivery expenses.
The company maintains adequate liquidity with $862 million in cash and short-term investments (28.3% of TTM revenue), providing some financial flexibility. However, management has significantly reduced its 2025 capacity growth guidance from 13% to 8-9%, signaling caution amid continued economic uncertainty.
Q2 projections indicate ongoing pressure with EBITDAR margins expected to compress to 24-25% from 35.9% in Q2 2024, and TRASM declining to $7.4-7.5 cents from $8.89 cents last year. The fleet modernization program continues with 61% of aircraft now being more fuel-efficient NEO models, which should provide some cost advantages despite the challenging revenue environment.
MEXICO CITY, April 28, 2025 (GLOBE NEWSWIRE) -- Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) (“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 first quarter 20251.
First Quarter 2025 Highlights
(All figures are reported in U.S. dollars and compared to 1Q 2024 unless otherwise noted)
- Net loss of
$51 million . Loss per American Depositary Shares (ADS) of$45 cents. - Total operating revenues of
$678 million , a12% decrease. - Total revenue per available seat mile (TRASM) decreased
17% to$7.76 cents. - Available seat miles (ASMs) increased by
6% to 8.7 billion. - Total operating expenses of
$688 million , representing101% of total operating revenue. - Total operating expenses per available seat mile (CASM) decreased
3% to$7.88 cents. - Average economic fuel cost decreased
13% to$2.63 per gallon. - CASM ex fuel increased
5% to$5.40 cents. - EBITDAR of
$203 million , a14% decrease. - EBITDAR margin was
29.9% , a decrease of 0.7 percentage points. - Total cash, cash equivalents, and short-term investments totaled
$862 million , representing28% of the last twelve months’ total operating revenue. - Net debt-to-LTM EBITDAR2 ratio increased to 2.7x, compared to 2.6x in the previous quarter.
Enrique Beltranena, President & Chief Executive Officer, said: “Volaris remains focused, as always, on disciplined execution as we navigate a period of geopolitical and economic uncertainty. Our tactical capacity decisions will continue to be grounded in two guiding priorities: customer demand and sustained profitability. We can operate and execute changes in our network with flexibility, agility, and resilience, leveraging our cost structure and financial strength.
We will continue delivering on our value proposition: offering low fares, maintaining an attractive and reliable schedule, and providing relevant ancillary options that enhance the travel experience. We are confident in our ability to prepare for a fast recovery once uncertainty eases. As we have demonstrated in the past, we are preparing for a strong comeback.”
1 The financial information, unless otherwise indicated, is presented in accordance with the International Financial Reporting Standards (IFRS).
2 Includes short-term investments.
First Quarter 2025 Consolidated Financial and Operating Highlights
(All figures are reported in U.S. dollars and compared to 1Q 2024 unless otherwise noted)
| First Quarter | |||
| 2025 | 2024 | Var. | |
| Total operating revenues (millions) | 678 | 768 | (11.7%) |
| TRASM (cents) | 7.76 | 9.34 | ( |
| ASMs (millions, scheduled & charter) | 8,737 | 8,217 | |
| Load Factor (scheduled, RPMs/ASMs) | (1.6 pp) | ||
| Passengers (thousands, scheduled & charter) | 7,418 | 6,924 | |
| Fleet (at the end of the period) | 145 | 134 | 11 |
| Total operating expenses (millions) | 688 | 664 | 3.6 % |
| CASM (cents) | 7.88 | 8.08 | ( |
| CASM ex fuel (cents) | 5.40 | 5.16 | |
| Adjusted CASM ex fuel (cents)3 | 4.87 | 5.32 | ( |
| Operating (loss) income (EBIT) (millions) | (10) | 104 | N/A |
| % EBIT margin | ( | (15.0 pp) | |
| Net (loss) income (millions) | (51) | 33 | N/A |
| % Net (loss) income margin | ( | (11.9 pp) | |
| EBITDAR (millions) | 203 | 235 | (13.6%) |
| % EBITDAR margin | (0.7 pp) | ||
| Net debt-to-LTM EBITDAR4 | 2.7x | 3.1x | (0.4x) |
Reconciliation of CASM to Adjusted CASM ex fuel:
| First Quarter | |||
| Reconciliation of CASM | 2025 | 2024 | Var. |
| CASM (cents) | 7.88 | 8.08 | ( |
| Fuel expense | (2.48) | (2.92) | ( |
| CASM ex fuel | 5.40 | 5.16 | |
| Aircraft and engine variable lease expenses5 | (0.61) | 0.04 | N/A |
| Sale and lease back gains | 0.08 | 0.12 | ( |
| Adjusted CASM ex fuel | 4.87 | 5.32 | ( |
| Note: Figures are rounded for convenience purposes. Further detail found in financial and operating indicators. 3 Excludes fuel expense, aircraft and engine variable lease expenses and sale and lease-back gains. 4 Includes short-term investments. 5 Aircraft redeliveries. | |||
First Quarter 2025
(All figures are reported in U.S. dollars and compared to 1Q 2024 unless otherwise noted)
Total operating revenues for the quarter amounted to
Total capacity, in terms of available seat miles (ASMs), was 8.7 billion, representing a
Booked passengers totaled 7.4 million, a
The load factor for the quarter reached
TRASM declined
The average base fare per passenger stood at
Total operating expenses were
CASM totaled
The average economic fuel cost decreased by
CASM ex fuel increased
Comprehensive financing result represented an expense of
Income tax benefit was
Net loss in the quarter was
EBITDAR for the quarter was
Balance Sheet, Liquidity, and Capital Allocation
As of March 31, 2025, cash, cash equivalents, and short-term investments were
Net cash flow provided by operating activities was
The financial debt amounted to
Net debt-to-LTM EBITDAR6 ratio stood at 2.7x, compared to 2.6x in the previous quarter and 3.1x in the same period of 2024.
The average exchange rate for the period was Ps.20.42 per U.S. dollar and Ps.20.32 per U.S. dollar at the end of the first quarter, reflecting a depreciation of
6 Includes short-term investments.
2025 Updated Guidance
Considering ongoing macroeconomic uncertainty, Volaris is not providing full-year 2025 margin guidance. The Company will continue to closely monitor demand trends and economic developments and will provide an update once visibility improves.
For the full year 2025, the Company expects:
| Updated Guidance | Prior Guidance | |
| Full Year 2025 Guidance | ||
| ASM growth (YoY) | | ~ |
| CAPEX (1) | ~ | ~ |
| (1) CAPEX net of financed fleet predelivery payments. | ||
For the second quarter of 2025, the Company expects:
| 2Q’25 | 2Q’24 (2) | |
| 2Q’25 Guidance | ||
| ASM growth (YoY) | - | |
| TRASM | ||
| CASM ex fuel | ||
| EBITDAR margin | ||
| Average USD/MXN rate | Ps. 20.20 to 20.40 | Ps. 17.21 |
| Average U.S. Gulf Coast jet fuel price | ||
| (2) For convenience purposes, actual reported figures for 2Q'24 are included. | ||
The second quarter and full year 2025 outlook presented above includes the compensation that Volaris expects to receive for the projected grounded aircraft resulting from the GTF engine inspections, in accordance with the Company’s agreement with Pratt & Whitney.
The Company's outlook is subject to unforeseen disruptions, macroeconomic factors, or other negative impacts that may affect its business and is based on several assumptions, including the foregoing, which are subject to change and may be outside the control of the Company and its management. The Company's expectations may change if actual results vary from these assumptions. There can be no assurances that Volaris will achieve these results.
Fleet
During the first quarter, Volaris retired one A319ceo aircraft and added two A320neo, and one A321neo aircraft to its fleet, bringing the total number of aircraft to 145. At the end of the quarter, Volaris’ fleet had an average age of 6.4 years and an average seating capacity of 198 passengers per aircraft. Of the total fleet,
| First Quarter | Fourth Quarter | |||||
| Total Fleet | 2025 | 2024 | Var. | 2024 | Var. | |
| CEO | ||||||
| A319 | 2 | 3 | (1) | 3 | (1) | |
| A320 | 44 | 42 | 2 | 44 | - | |
| A321 | 10 | 10 | - | 10 | - | |
| NEO | ||||||
| A320 | 55 | 51 | 4 | 53 | 2 | |
| A321 | 34 | 28 | 6 | 33 | 1 | |
| Total aircraft at the end of the period | 145 | 134 | 11 | 143 | 2 | |
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
Ricardo Martínez / ir@volaris.com
Media Contact
Israel Álvarez / ialvarez@gcya.net
Conference Call Details
| Date: | Monday, April 28, 2025 |
| Time: | 11:00 a.m. Mexico City / 1:00 p.m. New York (USA) (ET) |
| Webcast link: | Volaris Webcast (View the live webcast) |
| Dial-in & Live Q&A link: | Volaris Dial-in and Live Q&A
|
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 229 and its fleet from 4 to 145 aircraft. Volaris offers more than 550 daily flight segments on routes that connect 44 cities in Mexico and 29 cities in the United States, Central and South America, with one of the youngest fleets 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 fifteen consecutive years. For more information, please visit ir.volaris.com. Volaris routinely posts information that may be important to investors on its investor relations website. The Company encourages investors and potential investors to consult the Volaris website regularly for important information about Volaris.
Forward-Looking Statements
Statements in this release contain various forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. 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 describing the Company's objectives, plans or goals, or actions the Company may take in the future are forward-looking. Forward-looking statements include, without limitation, statements regarding the Company's outlook, the expectation of receiving certain compensation in connection with the GTF engine removals, and the anticipated execution of its business plan and focus on its 2025 priorities. Forward-looking statements should not be read as a guarantee or assurance of future performance or results. They 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 concerning 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. The Company's U.S. Securities and Exchange Commission filings contain additional information concerning these and other factors. 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.
Supplemental Information on Non-IFRS Measures
We evaluate our financial performance by using various financial measures that are not performance measures under International Financial Reporting Standards (“non-IFRS measures”). These non-IFRS measures include CASM, CASM ex fuel, Adjusted CASM ex fuel, EBITDAR, Net debt-to-LTM EBITDAR, Total cash, cash equivalents and short-term investments. We define CASM as total operating expenses by available seat mile. We define CASM ex fuel as total operating expenses by available seat mile, excluding fuel expense. We define Adjusted CASM ex fuel as total operating expenses by available seat mile, excluding fuel expense, aircraft and engine variable lease expenses and sale and lease back gains. We define EBITDAR as earnings before interest, income tax, depreciation and amortization, depreciation of right of use assets and aircraft and engine variable lease expenses. We define Net debt-to-LTM EBITDAR as Net debt divided by LTM EBITDAR. We define Total cash, cash equivalents and short-term investments as the sum of cash, cash equivalents and short-term investments.
These non-IFRS measures are provided as supplemental information to the financial information presented in this release that is calculated and presented in accordance with International Financial Reporting Standards (“IFRS”) because we believe that they, in conjunction with the IFRS financial information, provide useful information to management’s, analysts and investors overall understanding of our operating performance.
Because non-IFRS measures are not calculated in accordance with IFRS, they should not be considered superior to and are not intended to be considered in isolation or as a substitute for the related IFRS measures presented in this release and may not be the same as or comparable to
similarly titled measures presented by other companies due to possible differences in the method of calculation and the items being adjusted.
We encourage investors to review our financial statements and other filings with the Securities and Exchange Commission in their entirety for additional information regarding the Company and not to rely on any single financial measure.
| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Financial and Operating Indicators | |||
| Unaudited (U.S. dollars, except otherwise indicated) | Three months ended March 31, 2025 | Three months ended March 31, 2024 | Variance |
| Total operating revenues (millions) | 678 | 768 | ( |
| Total operating expenses (millions) | 688 | 664 | |
| EBIT (millions) | (10) | 104 | N/A |
| EBIT margin | ( | (15.0 pp) | |
| Depreciation and amortization (millions) | 159 | 134 | |
| Aircraft and engine variable lease expenses (millions) | 54 | (3) | N/A |
| Net (loss) income (millions) | (51) | 33 | N/A |
| Net (loss) income margin | ( | (11.9 pp) | |
| (Loss) earnings per share (1): | |||
| Basic | (0.04) | 0.03 | N/A |
| Diluted | (0.04) | 0.03 | N/A |
| (Loss) earnings per ADS*: | |||
| Basic | (0.45) | 0.29 | N/A |
| Diluted | (0.44) | 0.29 | N/A |
| Weighted average shares outstanding: | |||
| Basic | 1,149,802,368 | 1,151,450,983 | ( |
| Diluted | 1,164,583,159 | 1,165,976,677 | ( |
| Financial Indicators | |||
| Total operating revenue per ASM (TRASM) (cents) (2) | 7.76 | 9.34 | ( |
| Average base fare per passenger | 39 | 54 | ( |
| Total ancillary revenue per passenger (3) | 53 | 57 | ( |
| Total operating revenue per passenger | 91 | 111 | ( |
| Operating expenses per ASM (CASM) (cents) (2) | 7.88 | 8.08 | ( |
| CASM ex fuel (cents) (2) | 5.40 | 5.16 | |
| Adjusted CASM ex fuel (cents) (2) (4) | 4.87 | 5.32 | ( |
| Operating Indicators | |||
| Available seat miles (ASMs) (millions) (2) | 8,737 | 8,217 | |
| Domestic | 5,108 | 4,768 | |
| International | 3,629 | 3,449 | |
| Revenue passenger miles (RPMs) (millions) (2) | 7,462 | 7,146 | |
| Domestic | 4,536 | 4,329 | |
| International | 2,926 | 2,817 | |
| Load factor (5) | (1.6 pp) | ||
| Domestic | (2.0 pp) | ||
| International | (1.0 pp) | ||
| Booked passengers (thousands) (2) | 7,418 | 6,924 | |
| Domestic | 5,408 | 4,985 | |
| International | 2,010 | 1,939 | |
| Departures (2) | 44,577 | 40,428 | |
| Block hours (2) | 116,134 | 109,363 | |
| Aircraft at end of period | 145 | 134 | 11 |
| Average aircraft utilization (block hours) | 13.00 | 12.73 | |
| Fuel gallons accrued (millions) | 81.56 | 79.22 | |
| Average economic fuel cost per gallon (6) | 2.63 | 3.01 | ( |
| Average exchange rate | 20.42 | 17.00 | |
| Exchange rate at the end of the period | 20.32 | 16.68 | |
| *Each ADS represents ten CPOs and each CPO represents a financial interest in one Series A share | |||
| (1) The basic and diluted loss or earnings per share are calculated in accordance with IAS 33. Basic loss or earnings per share is calculated by dividing net loss or earnings by the average number of shares outstanding (excluding treasury shares). Diluted loss or earnings per share is calculated by dividing net loss or earnings by the average number of shares outstanding adjusted for dilutive effects. | (2) Includes scheduled and charter. (3) Includes “Other passenger revenues” and “Non-passenger revenues”. (4) Excludes fuel expense, aircraft and engine variable lease expenses and sale and lease-back gains. (5) Includes scheduled. (6) Excludes Non-creditable VAT. | ||
| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Consolidated Statement of Operations | |||
| Unaudited (In millions of U.S. dollars) | Three months ended March 31, 2025 | Three months ended March 31, 2024 | Variance |
| Operating revenues: | |||
| Passenger revenues | 645 | 732 | (11.9%) |
| Fare revenues | 286 | 375 | ( |
| Other passenger revenues | 359 | 357 | |
| Non-passenger revenues | 33 | 36 | (8.3%) |
| Cargo | 5 | 5 | |
| Other non-passenger revenues | 28 | 31 | ( |
| Total operating revenues | 678 | 768 | (11.7%) |
| Other operating income | (51) | (45) | |
| Fuel expense | 217 | 240 | ( |
| Aircraft and engine variable lease expenses | 54 | (3) | N/A |
| Salaries and benefits | 104 | 102 | |
| Landing, take-off and navigation expenses | 122 | 127 | ( |
| Sales, marketing and distribution expenses | 34 | 45 | ( |
| Maintenance expenses | 28 | 37 | ( |
| Depreciation and amortization | 52 | 35 | |
| Depreciation of right of use assets | 107 | 99 | |
| Other operating expenses | 21 | 27 | ( |
| Total operating expenses | 688 | 664 | 3.6 % |
| Operating (loss) income | (10) | 104 | N/A |
| Finance income | 12 | 12 | |
| Finance cost | (80) | (62) | |
| Exchange gain (loss), net | 2 | (7) | N/A |
| Comprehensive financing result | (66) | (57) | 15.8 % |
| (Loss) income before income tax | (76) | 47 | N/A |
| Income tax benefit (expense) | 25 | (14) | N/A |
| Net (loss) income | (51) | 33 | N/A |
| 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 (In millions of U.S. dollars) | Three months ended March 31, 2025 | Three months ended March 31, 2024 | Variance |
| Other passenger revenues | 359 | 357 | |
| Non-passenger revenues | 33 | 36 | ( |
| Total ancillary revenues | 392 | 393 | (0.3%) |
| Booked passengers (thousands) (1) | 7,418 | 6,924 | |
| Total ancillary revenue per passenger | 53 | 57 | (6.9%) |
| (1) Includes scheduled 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) | As of March 31, 2025 Unaudited | As of December 31, 2024 Audited |
| Assets | ||
| Cash and cash equivalents | 847 | 908 |
| Short-term investments | 15 | 46 |
| Total cash, cash equivalents and short-term investments (1) | 862 | - |
| Accounts receivable, net | 212 | 139 |
| Inventories | 17 | 17 |
| Guarantee deposits | 232 | 227 |
| Derivative financial instruments | - | - |
| Prepaid expenses and other current assets | 42 | 45 |
| Total current assets | 1,365 | 1,382 |
| Right of use assets | 2,459 | 2,470 |
| Rotable spare parts, furniture and equipment, net | 1,054 | 1,070 |
| Intangible assets, net | 25 | 26 |
| Derivatives financial instruments | - | - |
| Deferred income taxes | 329 | 286 |
| Guarantee deposits | 415 | 426 |
| Other long-term assets | 39 | 43 |
| Total non-current assets | 4,321 | 4,321 |
| Total assets | 5,686 | 5,703 |
| Liabilities and equity | ||
| Unearned transportation revenue | 375 | 343 |
| Accounts payable | 142 | 164 |
| Accrued liabilities | 239 | 222 |
| Other taxes and fees payable | 326 | 274 |
| Income taxes payable | 2 | 29 |
| Financial debt | 241 | 284 |
| Lease liabilities | 395 | 391 |
| Other liabilities | 96 | 63 |
| Total short-term liabilities | 1,816 | 1,770 |
| Financial debt | 525 | 526 |
| Accrued liabilities | 8 | 8 |
| Employee benefits | 13 | 13 |
| Deferred income taxes | 17 | 18 |
| Lease liabilities | 2,666 | 2,670 |
| Other liabilities | 326 | 333 |
| Total long-term liabilities | 3,555 | 3,568 |
| Total liabilities | 5,371 | 5,338 |
| Equity | ||
| Capital stock | 248 | 248 |
| Treasury shares | (13) | (13) |
| Contributions for future capital increases | - | - |
| Legal reserve | 17 | 17 |
| Additional paid-in capital | 284 | 283 |
| Accumulated deficit | (73) | (22) |
| Accumulated other comprehensive loss | (148) | (148) |
| Total equity | 315 | 365 |
| Total liabilities and equity | 5,686 | 5,703 |
| (1) Non-GAAP measure. | ||
| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Consolidated Statement of Cash Flows – Cash Flow Data Summary | ||
| Unaudited (In millions of U.S. dollars) | Three months ended March 31, 2025 | Three months ended March 31, 2024 |
| Net cash flow provided by operating activities | 157 | 245 |
| Net cash flow used in investing activities | (6) | (97) |
| Net cash flow used in financing activities* | (212) | (171) |
| Decrease in cash and cash equivalents | (61) | (23) |
| Net foreign exchange differences | - | 1 |
| Cash and cash equivalents at beginning of period | 908 | 774 |
| Cash and cash equivalents at end of period | 847 | 752 |
| *Includes aircraft rental payments of | ||
FAQ
What caused Volaris (VLRS) Q1 2025 net loss of $51 million?
How much cash does Volaris (VLRS) have as of Q1 2025?
What is Volaris (VLRS) fleet composition in Q1 2025?
What is Volaris (VLRS) updated guidance for 2025?
