Friday, 26 October 2018

Volaris Reports Third Quarter 2018 Results

Volaris one of the leading ultra-low-cost airlines serving Mexico, the United States and Central America, today announced its financial results for the third quarter 2018 this week.




Third Quarter 2018 Highlights

    Total operating revenues reached Ps.7,316 million for the third quarter, an increase of 11.3% year over year.
     
    Total ancillary revenues were Ps.2,220 million for the third quarter, an increase of 23.5% year over year. The total ancillary revenues per passenger for the third quarter were Ps.474, increasing 10.1% year over year.
       
    Total operating revenues per available seat mile (TRASM) were Ps.134.9 cents for the third quarter, a decrease of 1.9% year over year.
       
    Operating expenses per available seat mile (CASM) were Ps.130.4 cents for the third quarter, an increase of 4.8% year over year; with an average economic fuel cost per gallon of Ps.43.5, increasing 36.9% year over year, and an average exchange rate of Ps.18.98, a year over year increase of 6.5%. Operating expenses per available seat mile excluding fuel (CASM ex fuel) were Ps.81.9 cents for the third quarter, a decrease of 7.9% year over year.
       
    Operating income was Ps.246 million for the third quarter, with an operating margin of 3.4%, equal to a year over year operating margin decrease of 6.1 percentage points.
       
    Net loss was Ps.119 million (Ps. (0.12) per share / US$(1.17) per ADS for the third quarter, with a net loss margin of (1.6%), equal to a year over year net margin decrease of 12.6 percentage points.
       
    At the close of the third quarter, the Mexican peso had appreciated 5.3% against the U.S. dollar with respect to the end of period exchange rate of the previous quarter. The Company booked a foreign exchange loss of Ps.419 million as a consequence of our U.S. dollar net monetary asset position.
       

    Net cash flow used in operating activities was Ps.136 million, in conjunction with cash flow provided by investing activities of Ps.20 million, net cash flow used in financing activities of Ps.247 million, and a negative net foreign exchange difference of Ps.326 million; the net cash decrease in the third quarter was Ps.689 million. As of September 30, 2018, cash and cash equivalents were Ps.6,082 million.

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