Volaris Reports Second Quarter Net Income of $78 Million on 38 Percent Revenue Increase Versus 2019
Volaris has reported a second quarter net profit of $78 million or ($ 0.07) per diluted share on a year-over-two revenue increase of 38 percent to $581 million. As of June 30, 2021, the airline had cash and cash equivalents totaling $532 million.
On Thursday (July 15, 2021), Volaris reported their second quarter 2021 financial results for the period ending June 30, 2021. The carrier reported a net profit of $78 million on a 38 percent year-over-two increase in revenue to $581 million. At June 30, 2021, Volaris had cash and cash equivalents totaling $532 million and a net debt of $2.0 billion. During the second quarter, the airline added five new Airbus A320neos, expanding their fleet to 92 aircraft including six Airbus A319s, 70 A320s, and 16 A321s, with an average age of 5.4 years. Volaris’ fleet has an average of 188 seats with 80 percent of the aircraft sharklet-equipped and 39 percent New Engine Option (NEO) models. The airline plans on adding 25 A320neos to their fleet over the next 18 months, bolstering their fleet percentage of Airbus A320neo Family aircraft to 54 percent by 2022.
In Thursday’s announcement, Volaris’ President & Chief Executive Officer, Enrique Beltranena, said,
"I am proud of what our team was able to achieve in the second quarter 2021, delivering considerable improvement in almost all operating and financial metrics. We were able to significantly increase capacity while improving TRASM and maintaining our cost control discipline. This efficient growth allowed us to more than double EBITDAR compared to the second quarter of 2019. We have demonstrated yet again that the Volaris business model is sound and can deliver superior results in various market conditions. Our team has taken the opportunities that presented themselves from the CoVID-19 pandemic and come out stronger in the market.”
Based in Mexico City, Volaris is an ultra-low-cost carrier (ULCC) and Indigo Partners affiliate serving Mexico the U.S. and Central America. The carrier was the first North American airline to operate the Airbus A320neo and currently operates one of the youngest fleets in the Americas. Since launching operations in March 2006, Volaris has increased their network from five to 180 routes and the company’s fleet has grown from four to 93 aircraft. Volaris offers over 450 daily departures connecting 43 cities in Mexico and 28 cities in the U.S. and Central America. The company targets customers visiting friends and relatives, as well as cost-conscious business and leisure travelers.