Viva Aerobus reported a 34% revenue jump to $347 million in the first quarter of 2023 as passenger numbers hit 5.2.million, a 22% rise.
The Mexican airline reported a Q1 EBITDAR margin of 13.1% on earnings of $45 million, which topped pre-pandemic 1Q 2019.
The reported Q1 2023 loss of $21 million was an improvement of $2 million on gthe Q1 2022 loss.
“We are pleased with our 1Q performance. We were able to capitalise on the continued growth of the Mexican market
by leveraging the connectivity we have built in our six bases," said Juan Carlos Zuazua, chief executive.
The carrier said its costs went up by almost 6%, in part due to the peso appreciating against the US dollar, but also reflecting factors such as inflation.
"Overall, we are off to a strong start for Viva, reflecting our ability to execute on the variables we can control, which we
will continue to build on for the rest of the year," Zuazua said.