Volaris reported double-digit growth in revenue and finished the third quarter of 2022 with a healthy balance sheet. Volaris reported a 20% increase in the total operating revenue of $769 with a net income of $40 million. The operating revenue was driven by higher capacity, strong load factors, and seasonality. Volaris reported that the demand has remained strong throughout the quarter with healthy booking curves notwithstanding certain headwinds like high inflation and eco-political uncertainty occurring in the markets.
Enrique Beltranena, Chief Executive Officer, Volaris, said: “We have consistently anticipated strong demand in our visiting friends-and-relatives and leisure markets - markets which show no signs of a slowdown. ASMs grew by 22% for the third quarter compared to 2021 and by 48% compared to 2019. Our strategically planned growth has been both consistent and profitable.”
Volaris transported 8.1 million passengers in Q3 with a steady increase of 22.2%. Domestic and international passengers showed an increase of 22.7% and 20.2%, respectively.
Total operating expenses as reported in Q3 were $734 million, a 52% increase, driven by higher fuel costs and major maintenance with a loss of $44 million and a net debt of $2,151 million including $242 million financial debt, $2,659 million leasing liabilities, and less cash, cash equivalents and a restricted position of $750 million.
“While typically we see load factor peak in July and reductions towards the end of Summer, in this year our load factors increased every month in the third quarter, from 84.7% in July, to 84.9% in August, and reached an all-time monthly record high of 87.4% in September. Forward bookings are solid, and we expect to maintain a strong load factor for the remainder of the year, while CASM ex-fuel for the third quarter was under control despite inflationary pressures,” concluded Enrique.