Volaris Announces August 2024 Traffic Outcomes: 87% Load Factor
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Volaris Reports Traffic Results for August 2024
MEXICO CITY, Sept. 04, 2024 -- Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) is proud to announce its preliminary traffic results for August 2024. This ultra-low-cost carrier continues to serve Mexico, the United States, and other regions effectively.
Overview of August 2024 Traffic Results
During August, Volaris experienced a 15.1% decline in available seat miles (ASMs) year-over-year. This reduction is largely attributed to ongoing Pratt & Whitney engine inspections that have led to temporary aircraft groundings. Despite these challenges, Volaris successfully transported 2.6 million passengers, maintaining a solid load factor of 87.0%, which remains consistent with the previous year.
Key Performance Metrics
In terms of revenue passenger miles (RPMs), there was a 15.3% overall decrease. The breakdown included a significant drop of 22.0% in the Mexican domestic market, while international RPMs remained relatively stable. This performance reflects a balancing act as the company adapts to operational challenges while still meeting travel demand.
Statements from Leadership
Enrique Beltranena, Volaris’ President and CEO, commented on the company's strategic management during this period. He stated, "Our fleet mitigation plan is progressing well, and we're achieving our operational targets despite having nearly 30% of our fleet grounded." He reassured stakeholders by reaffirming an annual capacity guidance indicating an approximate 14% reduction.
Operational Highlights
Despite the issues faced with aircraft availability, Volaris ended the summer high season with strong operational performance and high load factors, which were driven by robust travel demand. Beltranena highlighted that passengers can expect ongoing adjustments as the company manages its flight schedules amidst the engine inspection process.
Understanding Passenger Metrics
The airline's financial health and operational efficiency continue to evolve, with Volaris emphasizing its focus on delivering a quality travel experience. RPMs are calculated by multiplying the number of seats booked by the number of miles flown, providing an insight into how busy the airline's routes are.
About Volaris
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) operates as an ultra-low-cost carrier known for its point-to-point services. Since its inception in March 2006, the airline expanded its fleet and routes significantly, now managing over 137 aircraft and offering services to 44 cities in Mexico and 29 cities in the Americas.
Contact Information
If you have any inquiries, please reach out to our Investor Relations contact:
Ricardo Martínez / ir@volaris.com
Media inquiries can be directed to:
Israel Álvarez / ialvarez@gcya.net
Frequently Asked Questions
What was Volaris' load factor in August 2024?
Volaris reported a load factor of 87.0% for August 2024.
How many passengers did Volaris transport in August 2024?
Volaris transported 2.6 million passengers in August 2024.
What factors contributed to the decrease in ASMs?
The decrease in ASMs was primarily due to accelerated Pratt & Whitney engine inspections affecting aircraft availability.
How does the current performance compare to last year?
The current load factor is consistent with last year, despite a decline in RPMs and ASMs.
What does Volaris' future outlook look like?
Volaris remains committed to its strategic goals while navigating ongoing operational challenges and is reaffirming its annual capacity guidance.
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