Grupo Viva Aerobus Reports Q4 Net Loss of $27 Million, Full Year 2020 Net Loss of $134 Million
The Mexican low-cost carrier reported a fourth quarter net loss of $27 million on a 13 percent revenue decline to $158 million. For the full year 2020, Viva Aerobus reported a net loss of $134 million on a year-over-year revenue decline of 36 percent to $630 million.
On Monday (February 22, 2021), Grupo Viva Aerobus reported their fourth quarter and full year 2020 financial results. The Mexican LCC reported a fourth quarter net loss of MXN 558 million (US $27 million) on a 13 percent revenue decline to MXN 3.2 billion (US $158 million) compared to Q4 2019. For the full year, Viva Aerobus reported a net loss of MXN 2.7 billion (US $134 million) on a year-over-year revenue decline of 36 percent to MXN 12.9 billion (US $630 million). During the fourth quarter, Viva Aerobus became the first carrier in the Americas to resume 100 percent of their pre-pandemic operational capacity. The company ended the year with 131 routes, including 103 domestic and 12 international routes, 12 more routes than 2019.
In Monday’s announcement, Grupo Viva Aerobus’ CEO, Juan Carlos Zuazua, said,
“Amid this environment of constant change as the pandemic evolves, the entire Viva Aerobus team has responded with speed, prudence and determination, professionalism that is reflected in solid results despite the headwinds: liquidity, a positive EBITDAR for the second consecutive quarter, and a stable operation. Backed by this great team and a robust business model, we are looking ahead with renewed hope and optimism, confident that we will emerge stronger from this challenge, to continue consolidating our leadership in the Mexican air travel industry”
At December 31, 2020, Grupo Viva Aerobus has cash and cash equivalents of approximately MXN 3.0 billion (US $145 million).
Founded in 2006, Viva Aerobus is a Mexican low-cost carrier (LCC). The company currently operates the youngest aircraft fleet in Latin America with 43 Airbus A320 Family aircraft. The airline is committed to the democratization of the airline industry, giving all people the opportunity to fly, by offering the lowest fares in México.
Source: Grupo Viva Aerobus