Volaris Reports September 2024 Traffic Results: 85% Load Factor
Rhea-AI Summary
Volaris, the ultra-low-cost carrier serving Mexico, the United States, Central, and South America, reported its September 2024 preliminary traffic results. Key points include:
- ASM capacity decreased by 12.8% year-over-year due to accelerated Pratt & Whitney engine inspections and aircraft groundings
- Transported 2.3 million passengers with a load factor of 85.0%, a 1.2 pp increase from last year
- RPMs decreased by 11.5%, with domestic RPMs down 18.5% and international RPMs up 2.1%
CEO Enrique Beltranena noted strong demand in both domestic and international markets for Q3. The company expects more normalized comparables in Q4, considering the timing of engine inspections and the recovery of Cat 1 in Q4 2023. The engine inspection process is progressing as forecasted, and the company's performance aligns with expectations.
Positive
- Load factor increased by 1.2 percentage points to 85.0% compared to last year
- International RPMs increased by 2.1% year-over-year
- Strong demand reported in both domestic and international markets for Q3
Negative
- ASM capacity decreased by 12.8% year-over-year due to engine inspections and aircraft groundings
- Total RPMs decreased by 11.5% compared to September 2023
- Domestic RPMs declined by 18.5% year-over-year
- Total passenger count decreased by 9.0% compared to the same period last year
News Market Reaction – VLRS
On the day this news was published, VLRS gained 2.30%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MEXICO CITY, Oct. 03, 2024 (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, reports its September 2024 preliminary traffic results.
In September 2024, Volaris' ASM capacity decreased by
Enrique Beltranena, Volaris’ President and CEO said: “Volaris finished the third quarter with strong demand in both domestic and international markets. As we enter the final quarter of the year, we will have more normalized comparables, considering the timing of the accelerated engine inspections and the recovery of Cat 1 in the fourth quarter of 2023. The engine inspections’ process has evolved according to our forecast, and the Company continues to perform in line with our expectations.”
| September 2024 | September 2023 | Variance | YTD September 2024 | YTD September 2023 | Variance | |
| RPMs (million, scheduled & charter) | ||||||
| Domestic | 1,390 | 1,706 | - | 13,399 | 17,065 | - |
| International | 892 | 874 | 8,309 | 8,096 | ||
| Total | 2,282 | 2,580 | - | 21,709 | 25,161 | - |
| ASMs (million, scheduled & charter) | ||||||
| Domestic | 1,562 | 1,947 | - | 14,837 | 19,798 | - |
| International | 1,122 | 1,132 | - | 10,223 | 9,690 | |
| Total | 2,684 | 3,079 | - | 25,060 | 29,488 | - |
| Load Factor (%, RPMs/ASMs) | ||||||
| Domestic | 1.4 pp | 4.1 pp | ||||
| International | 2.3 pp | (2.3) pp | ||||
| Total | 85.0% | 83.8% | 1.2 pp | 86.6% | 85.3% | 1.3 pp |
| Passengers (thousand, scheduled & charter) | ||||||
| Domestic | 1,714 | 1,951 | - | 15,960 | 19,683 | - |
| International | 607 | 598 | 5,665 | 5,566 | ||
| Total | 2,321 | 2,549 | - | 21,625 | 25,250 | - |
The information included in this report has not been audited and does not provide information on the Company’s future performance. Volaris’ future performance depends on several factors. It cannot be inferred that any period’s performance or its comparison year-over-year will indicate a similar performance in the future. Figures are rounded for convenience purposes.
Glossary
Revenue passenger miles (RPMs): Number of seats booked by passengers multiplied by the number of miles flown.
Available seat miles (ASMs): Number of seats available for passengers multiplied by the number of miles flown.
Load factor: RPMs divided by ASMs and expressed as a percentage.
Passengers: The total number of passengers booked on all flight segments.
Investor Relations Contact
Ricardo Martínez / ir@volaris.com
Media Contact
Israel Álvarez / ialvarez@gcya.net
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 220 and its fleet from 4 to 137 aircraft. Volaris offers more than 450 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.
FAQ
What was Volaris' load factor in September 2024?
How many passengers did Volaris transport in September 2024?
What caused the decrease in Volaris' ASM capacity in September 2024?
How did Volaris' international RPMs perform in September 2024?
