Mexican carrier Volaris budgets for Mexico Category 1 rating by 2023

Volaris airlines is planning its budget on the expectation that Mexico will regain its Category 1 aviation safety rating by the second half of 2023, the Mexican airline's finance chief said on Tuesday. "We are budgeting for the second half of next year, and we are closely monitoring that," Volaris CFO Jaime Pou said in an investor call. Mexico President Andres Manuel Lopez Obrador said at a regular news conference Tuesday that authorities from his country will travel to the United States this weekend to discuss regaining the rating. In May 2021, the FAA downgraded Mexico's aviation safety rating, an action barring Mexican carriers from adding new U.S. flights and limits the ability of airlines to carry out marketing agreements with one another. Over the objections of the Mexican government, the FAA downgraded Mexico - one of the most common international destinations for US air travelers - from a level called Category 1, which signifies compliance with international standards, to Category 2, the lowest level. "Things are really advancing," Lopez Obrador said, explaining that the head of the transportation ministry, the deputy minister and the head of the aviation authority would make the trip to Washington. An FAA spokesman said Tuesday the agency continues "to provide assistance to Mexico’s civil aviation authority." About 90% of countries rated achieved Category 1 and meet international air safety standards.<br/>