Mexico’s Volaris reports profit of $37m during Q3
Mexican airline Volaris posted a profit of $37m as it continued to deal with fallout relating to the Pratt & Whitney engine inspections that have affected its Airbus A320-family fleet. Revenue at the Mexico City-based ultra-low-cost carrier (ULCC) eased 4% to $813m, while expenses also fell, by 15%, to $687m, the company said on 23 October. The declines were due to 14.4% lower capacity as measured in available seat miles a result of the Pratt & Whitney inspection recall. “Volaris’ third quarter results demonstrate the resilience of our business model and our focus on execution as we have successfully navigated one year of Pratt & Whitney’s engine inspections,” says CE Enrique Beltranena. “We strategically managed capacity while providing great ULCC service to our customers and reinforcing our position as the preferred airline in our core markets. Booking trends continue to show strength throughout the fall and the holiday high season, therefore we remain committed to achieving our updated full-year guidance.” That guidance has the company’s capacity down about 13% over the full year. Previously, it had said capacity will be 14% lower. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-10-24/unaligned/mexico2019s-volaris-reports-profit-of-37m-during-q3
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Mexico’s Volaris reports profit of $37m during Q3
Mexican airline Volaris posted a profit of $37m as it continued to deal with fallout relating to the Pratt & Whitney engine inspections that have affected its Airbus A320-family fleet. Revenue at the Mexico City-based ultra-low-cost carrier (ULCC) eased 4% to $813m, while expenses also fell, by 15%, to $687m, the company said on 23 October. The declines were due to 14.4% lower capacity as measured in available seat miles a result of the Pratt & Whitney inspection recall. “Volaris’ third quarter results demonstrate the resilience of our business model and our focus on execution as we have successfully navigated one year of Pratt & Whitney’s engine inspections,” says CE Enrique Beltranena. “We strategically managed capacity while providing great ULCC service to our customers and reinforcing our position as the preferred airline in our core markets. Booking trends continue to show strength throughout the fall and the holiday high season, therefore we remain committed to achieving our updated full-year guidance.” That guidance has the company’s capacity down about 13% over the full year. Previously, it had said capacity will be 14% lower. <br/>
