We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Volaris Aviation Holding | NYSE:VLRS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.07 | 0.85% | 8.26 | 8.36 | 7.945 | 8.19 | 278,914 | 01:00:00 |
MEXICO CITY, Mexico, April 22, 2021 /PRNewswire/ -- Volaris* (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline serving Mexico, the United States of America and Central America, today announces its financial results for the first quarter 2021.
The following financial information, unless otherwise indicated, is presented in accordance with the International Financial Reporting Standards (IFRS).
First Quarter 2021 Highlights
The main results for the first quarter are described as follows:
Fuel Price reduction and Peso Depreciation
Passenger Traffic Contraction and Ancillary Revenue Growth
Total Unit Cost Control
Young and Fuel-Efficient Consumption Fleet
Solid Balance Sheet and Liquidity with Net Cash Flow Generated by Operating Activities
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.
Conference Call/Webcast Details:
Presenters for the Company:
Date: |
Mr. Enrique Beltranena, President & CEO Mr. Holger Blankenstein, Airline Commercial and Operation EVP Mr. Jaime Pous, Chief Financial Officer Friday, April 23, 2021 |
Time: | 10:00 am U.S. EDT (9:00 am Mexico City Time) |
United States dial in (toll free): | 1-877-830-2576 |
Mexico dial in (toll free): | 001-800-514-6145 |
Brazil dial in (toll free): | 0800-891-6744 |
International dial in: | + 1-785-424-1726 |
Participant passcode: | VOLARIS |
Webcast will be available at: | https://services.choruscall.com/links/vlrs210219KKfUd2nS.html |
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 and Central 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 five to more than 170 and its fleet from four to 87 aircraft. Volaris offers more than 410 daily flight segments on routes that connect 43 cities in Mexico and 25 cities in the United States and Central 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 and Central America. Volaris has received the ESR Award for Social Corporate Responsibility for eleven 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 Securities Act of 1933, as amended, and Section 21E of the 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 a number of 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 revenues; and government regulation. Additional information concerning these, and other factors is contained in the Company's 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.
Investor Relations Contact:
Maria Elena Rodríguez & Renato Duarte Salomone/ Investor Relations /ir@volaris.com +52 55 5261 6444
Media Contact:
Gabriela Fernández / volaris@gcya.net / +52 55 5246 0100
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. y Subsidiarias | ||||
Financial and Operating Indicators | ||||
Unaudited (In Mexican pesos, except otherwise indicated) |
Three months ended March 31, (US Dollars)* | Three months | Three months
| Variance (%) |
Total operating revenues (millions) | 311 | 6,403 | 7,824 | (18.2%) |
Total operating expenses (millions) | 347 | 7,142 | 7,517 | (5.0%) |
EBIT (millions) | (36) | (739) | 308 | NA |
EBIT margin | (11.5%) | (11.5%) | 3.9% | (15.5) pp |
Depreciation and amortization (millions) | 75 | 1,555 | 1,442 | 7.8% |
Aircraft and engine variable lease expenses (millions) | 23 | 468 | 375 | 24.8% |
Net loss (millions) | (36) | (733) | (1,493) | (50.9%) |
Net loss margin | (11.4%) | (11.4%) | (19.1%) | 7.7pp |
Loss per share: | ||||
Basic (pesos) | (0.03) | (0.63) | (1.48) | (57.4%) |
Diluted (pesos) | (0.03) | (0.63) | (1.48) | (57.4%) |
Loss per ADS: | ||||
Basic (pesos) | (0.31) | (6.29) | (14.76) | (57.4%) |
Diluted (pesos) | (0.31) | (6.29) | (14.76) | (57.4%) |
Weighted average shares outstanding: | ||||
Basic | - | 1,165,976,677 | 1,011,876,677 | 15.2% |
Diluted | - | 1,165,976,677 | 1,011,876,677 | 15.2% |
Available seat miles (ASMs) (millions) (1) | - | 5,380 | 6,095 | (11.7%) |
Domestic | - | 4,038 | 4,253 | (5.0%) |
International | - | 1,342 | 1,843 | (27.2%) |
Revenue passenger miles (RPMs) (millions) (1) | - | 4,202 | 5,166 | (18.7%) |
Domestic | - | 3,256 | 3,660 | (11.0%) |
International | - | 946 | 1,506 | (37.2%) |
Load factor (2) | - | 78.1% | 84.7% | (6.6) pp |
Domestic | - | 80.6% | 86.1% | (5.4) pp |
International | - | 70.5% | 81.7% | (11.2) pp |
Total operating revenue per ASM (TRASM) (cents) (1) (5) | 5.9 | 121.1 | 128.8 | (6.0%) |
Total ancillary revenue per passenger (4) (5) | 37.3 | 768 | 564 | 36.0% |
Total operating revenue per passenger (5) | 74.0 | 1,526 | 1,488 | 2.5% |
Operating expenses per ASM (CASM) (cents) (1) (5) | 6.50 | 134.0 | 124.1 | 8.0% |
Operating expenses per ASM (CASM) (US cents) (1) (3) (5) | - | 6.59 | 6.24 | 5.6% |
CASM ex fuel (cents) (1) (5) | 4.71 | 97.0 | 82.1 | 18.2% |
CASM ex fuel (US cents) (1) (3) (5) | - | 4.78 | 4.13 | 15.7% |
Booked passengers (thousands) (1) | - | 4,271 | 5,277 | (19.1%) |
Departures (1) | - | 28,962 | 33,661 | (14.0%) |
Block hours (1) | - | 73,171 | 86,637 | (15.5%) |
Fuel gallons consumed (millions) | - | 50.8 | 61.9 | (17.9%) |
Average economic fuel cost per gallon (5) | 1.9 | 39.1 | 41.4 | (5.5%) |
Aircraft at end of period | - | 87 | 82 | 6.1% |
Average aircraft utilization (block hours) | - | 10.6 | 12.8 | (17.3%) |
Average exchange rate | - | 20.32 | 19.88 | 2.2% |
End of period exchange rate | - | 20.60 | 23.51 | (12.4%) |
*Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. (1) Includes scheduled and chartered. (3) Dollar amounts were converted at average exchange rate of each period. | ||||
(2) Includes scheduled. (4) Includes "Other passenger revenues" and "Non-passenger revenues". (5) Excludes non-derivatives financial instruments. |
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | ||||
Consolidated Statement of Operations | ||||
Unaudited | Three months ended | Three months ended March 31, 2021 | Three months ended March 31, 2020 | Variance |
(In millions of Mexican pesos) | (US Dollars) * | (%) | ||
Operating revenues: | ||||
Passenger revenues | 298 | 6,130 | 7,548 | (18.8%) |
Fare revenues | 157 | 3,238 | 4,874 | (33.6%) |
Other passenger revenues | 140 | 2,893 | 2,675 | 8.2% |
Non-passenger revenues | 19 | 386 | 304 | 27.1% |
Other non-passenger revenues | 16 | 331 | 247 | 33.8% |
Cargo | 3 | 55 | 56 | (2.2%) |
Non-derivatives financial instruments | (5) | (113) | (27) | >100% |
Total operating revenues | 311 | 6,403 | 7,824 | (18.2%) |
Other operating income | (3) | (59) | (121) | (51.6%) |
Fuel expense, net (1) | 93 | 1,922 | 2,513 | (23.5%) |
Depreciation of right of use assets | 63 | 1,302 | 1,234 | 5.5% |
Landing, take-off and navigation expenses | 59 | 1,212 | 1,478 | (18.0%) |
Sales, marketing and distribution expenses | 17 | 355 | 363 | (2.2%) |
Salaries and benefits | 47 | 972 | 940 | 3.5% |
Aircraft and engine variable lease expenses | 23 | 468 | 375 | 24.8% |
Maintenance expenses | 21 | 423 | 234 | 81.0% |
Other operating expenses | 14 | 295 | 293 | 0.4% |
Depreciation and amortization | 12 | 253 | 209 | 21.3% |
Operating expenses | 347 | 7,142 | 7,517 | (5.0%) |
Operating (loss) income | (36) | (739) | 308 | NA |
Finance income | 1 | 12 | 49 | (75.8%) |
Finance cost | (28) | (567) | (656) | (13.6%) |
Exchange gain (loss), net | 12 | 247 | (1,834) | NA |
Comprehensive financing result | (15) | (308) | (2,441) | (87.4%) |
Loss before income tax | (51) | (1,047) | (2,133) | (50.9%) |
Income tax benefit | 15 | 314 | 640 | (50.9%) |
Net loss | (36) | (733) | (1,493) | (50.9%) |
* Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. (1) 1Q 2021 and 1Q 2020 figures include a benefit from non-derivatives financial instruments by an amount of Ps.66 million and Ps.48 million, respectively. |
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. y Subsidiarias | ||||
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 (US Dollars)* | Three months |
Three months | Variance (%) |
(In millions of Mexican pesos) | ||||
Other passenger revenues | 140 | 2,893 | 2,675 | 8.2% |
Non-passenger revenues | 19 | 386 | 304 | 27.1% |
Total ancillary revenues | 159 | 3,279 | 2,979 | 10.1% |
Booked passengers (thousands) | - | 4,271 | 5,277 | (19.1%) |
Total ancillary revenue per passenger | 37 | 768 | 564 | 36.0% |
* Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. |
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. y Subsidiarias | ||||||
Consolidated Statement of Financial Position | ||||||
(In millions of Mexican pesos) | March 31, 2021 | March 31, 2021 | December 31, 2020 | |||
(US Dollars)* | ||||||
Assets | ||||||
Cash and cash equivalents | 423 | 8,718 | 10,103 | |||
Accounts receivable | 106 | 2,181 | 2,027 | |||
Inventories | 13 | 276 | 279 | |||
Prepaid expenses and other current assets | 53 | 1,090 | 850 | |||
Financial instruments | - | - | - | |||
Guarantee deposits | 61 | 1,257 | 1,142 | |||
Total current assets | 656 | 13,522 | 14,402 | |||
Rotable spare parts, furniture and equipment, net | 354 | 7,288 | 7,281 | |||
Right of use assets | 1,631 | 33,603 | 34,316 | |||
Intangible assets, net | 9 | 182 | 192 | |||
Financial instruments | - | 1 | - | |||
Deferred income taxes | 167 | 3,440 | 3,129 | |||
Guarantee deposits | 441 | 9,086 | 8,425 | |||
Other assets | 5 | 100 | 119 | |||
Other long- term assets | 16 | 334 | 325 | |||
Total non-current assets | 2,622 | 54,033 | 53,787 | |||
Total assets | 3,279 | 67,555 | 68,189 | |||
Liabilities | ||||||
Unearned transportation revenue | 306 | 6,310 | 5,851 | |||
Accounts payable | 73 | 1,500 | 2,365 | |||
Accrued liabilities | 125 | 2,571 | 2,356 | |||
Lease liabilities | 327 | 6,743 | 6,484 | |||
Other taxes and fees payable | 120 | 2,469 | 2,236 | |||
Income taxes payable | - | 2 | 4 | |||
Financial instruments | - | - | 10 | |||
Financial debt | 134 | 2,759 | 1,559 | |||
Other liabilities | 9 | 179 | 101 | |||
Total short-term liabilities | 1,094 | 22,534 | 20,966 | |||
Financial debt | 132 | 2,718 | 3,796 | |||
Accrued liabilities | 3 | 56 | 67 | |||
Lease liabilities | 1,837 | 37,858 | 37,646 | |||
Other liabilities | 145 | 2,980 | 2,668 | |||
Employee benefits | 3 | 54 | 51 | |||
Deferred income taxes | 10 | 200 | 200 | |||
Total long-term liabilities | 2,129 | 43,867 | 44,427 | |||
Total liabilities | 3,223 | 66,401 | 65,393 | |||
Equity | ||||||
Capital stock | 166 | 3,426 | 3,426 | |||
Treasury shares | (11) | (224) | (224) | |||
Contributions for future capital increases | - | - | - | |||
Legal reserve | 14 | 291 | 291 | |||
Additional paid-in capital | 228 | 4,706 | 4,720 | |||
Retained losses | (223) | (4,588) | (3,855) | |||
Accumulated other comprehensive losses (1) | (119) | (2,457) | (1,562) | |||
Total equity | 56 | 1,154 | 2,796 | |||
Total liabilities and equity | 3,279 | 67,555 | 68,189 | |||
Total shares outstanding fully diluted | 1,165,976,677 | 1,165,976,677 | ||||
* Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. (1) As of March 31, 2021 and December 31, 2020 the figures include a negative foreign exchange effect of Ps.2,483 million and negative foreign exchange effect of Ps.1,577, respectively, related to non-derivative financial instruments. |
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. y Subsidiarias | |||
Consolidated Statement of Cash Flows – Cash Flow Data Summary | |||
Unaudited |
Three months ended March 31, 2021 | Three months ended March 31, |
Three months |
(In millions of Mexican pesos) | (US Dollars)* | ||
Net cash flow generated by operating activities | 37 | 752 | 2,819 |
Net cash flow used in investing activities | (9) | (191) | (37) |
Net cash flow used in financing activities** | (106) | (2,181) | (1,869) |
(Decrease) increase in cash and cash equivalents | (79) | (1,620) | 913 |
Net foreign exchange differences | 11 | 234 | 1,765 |
Cash and cash equivalents at beginning of period | 490 | 10,103 | 7,980 |
Cash and cash equivalents at end of period | 423 | 8,718 | 10,658 |
* Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. | |||
**Includes aircraft rental payments of Ps.2,136 million and Ps.1,819 million for the three months ended period March 31, 2021 and 2020, respectively. |
View original content to download multimedia:http://www.prnewswire.com/news-releases/volaris-the-lowest-cost-publicly-traded-airline-in-the-americas-reports-strong-liquidity-position-of-ps8-7-billion-as-of-march-31--2021--301275619.html
SOURCE Volaris
Copyright 2021 PR Newswire
1 Year Volaris Aviation Chart |
1 Month Volaris Aviation Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions