MEXICO
CITY, April 24, 2023 /PRNewswire/ --
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS
and BMV: VOLAR) ("Volaris" or "The Company"), the ultra-low-cost
airline serving Mexico,
the United States, Central and
South America, today announces its financial results for the
first quarter 2023[1].
First Quarter 2023 Highlights
(All figures are
reported in U.S. dollars and compared to 1Q 2022 unless otherwise
noted)
- Total operating revenues of $731
million, a 29% increase.
- Total revenue per available seat mile (TRASM) increased
9.5% to $7.71 cents.
- Available seat miles (ASMs) increased 18% to 9.5
billion.
- Total operating expenses of $762
million, representing 104% of total operating revenue.
- Total operating expenses per available seat mile (CASM)
increased 8.2% to $8.03 cents.
- Average economic fuel cost increased 12% to $3.46 per gallon.
- CASM ex fuel increased 5.7% to $4.65 cents.
- Adjusted CASM ex fuel increased 6.3% to $4.28 cents.
- Net loss of $71 million.
Loss per share of $0.06 and loss per
ADS of $0.62 cents.
- EBITDAR of $123 million, a
27% increase.
- EBITDAR margin was 16.8%, a reduction of 0.2 percentage
points.
- Cash, cash equivalents, and restricted cash position
totaled $704 million, representing
23% of the last twelve months' total operating revenue.
- Net debt-to-LTM EBITDAR ratio of 3.8 times.
Enrique Beltranena, President
& Chief Executive Officer said: "During the first
quarter, demand in all segments and regions remained strong for our
company. We achieved a new first-quarter TRASM record, thanks to
the solid penetration of ancillaries. Volaris has continued to grow
profitably in the United States,
driven by our strength in U.S. transborder and Central America regions. Going forward, the
strength of our network coupled with our strict cost control are
expected to provide us with a widening competitive advantage in our
markets. Good progress has been made in CAT1 with the approval of
the amendments to the Aviation Law by Congress".
First Quarter 2023 Consolidated Financial and Operating
Highlights
(All figures are reported in U.S. dollars and
compared to 1Q 2022 unless otherwise noted)
|
First
Quarter
|
Financial and
Operating Highlights
|
2023
|
2022
|
Var
|
Total operating
revenue (millions)
|
731
|
567
|
28.9 %
|
TRASM
(cents)
|
7.71
|
7.04
|
9.5 %
|
ASMs (million,
scheduled & charter)
|
9,488
|
8,061
|
17.7 %
|
Load Factor (scheduled,
RPMs/ASMs)
|
85.0 %
|
83.5 %
|
1.6 pp
|
Passengers (thousand,
scheduled & charter)
|
8,186
|
6,989
|
17.1 %
|
Fleet (end of
period)
|
120
|
104
|
16
|
Total operating
expenses (millions)
|
762
|
598
|
27.4 %
|
CASM (cents)
|
8.03
|
7.42
|
8.2 %
|
CASM excl. fuel
(cents)
|
4.65
|
4.40
|
5.7 %
|
Adjusted CASM excl.
fuel (cents) (1) (2)
|
4.28
|
4.03
|
6.3 %
|
Operating loss
(EBIT) (millions)
|
(31)
|
(31)
|
0.0 %
|
% EBIT
Margin
|
(4.3 %)
|
(5.5 %)
|
1.3 pp
|
Net loss
(millions)
|
(71)
|
(49)
|
44.9 %
|
% Net loss
margin
|
(9.7 %)
|
(8.7 %)
|
(1.0 pp)
|
EBITDAR
(millions)
|
123
|
97
|
26.8 %
|
% EBITDAR
Margin
|
16.8 %
|
17.0 %
|
(0.2 pp)
|
Net
debt-to-EBITDAR
|
3.8x
|
2.3x
|
1.5x
|
*Note: Figures are rounded for convenience purposes. Further
detail found in financial and operating indicators.
(1) Excludes fuel expense, aircraft and engine variable lease
expenses and sale and lease-back gains.
(2) Reconciliation of CASM to Adjusted CASM ex fuel:
|
First
Quarter
|
Reconciliation of
CASM
|
2023
|
2022
|
Var
|
CASM
(cents)
|
8.03
|
7.42
|
8.2 %
|
- Fuel
expense
|
3.38
|
3.02
|
11.9 %
|
CASM ex
fuel
|
4.65
|
4.40
|
5.7 %
|
- Aircraft and
engine variable lease expenses[2]
|
0.37
|
0.41
|
(8.6 %)
|
- Sale and lease
back gains
|
(0.00)
|
(0.04)
|
N/A
|
Adjusted CASM ex
fuel
|
4.28
|
4.03
|
6.3 %
|
Total operating revenues in the quarter were
$731 million, a 29% increase driven
by solid international demand and ancillary revenue per
passenger.
Booked passengers were 8.2 million in the quarter, an increase
of 17%. Domestic and international booked passengers increased 13%
and 33%, respectively, while total capacity, in terms of
available seat miles (ASMs), increased 18% to 9.5
billion.
Load factor reached 85.0%, 1.6 percentage points higher
than in the same period in 2022.
TRASM increased 9.5% to $7.71
cents in the quarter. Average base fare was $47, an increase of 2.4%. Ancillary revenue per
passenger was $42, a 20% increase.
Ancillary revenue represented 47% of total operating revenue, 4.0
percentage points above the first quarter 2022. Finally, total
operating revenue per passenger stood at $89, representing a 10% increase.
Total operating expenses in the quarter were
$762 million, representing 104% of
total operating revenue, compared to 105% in the same period of
2022; a 1 percentage point decrease.
CASM totaled $8.03
cents, 8.2% higher when compared to the same period of 2022.
The average economic fuel cost, excluding VAT, per gallon
increased 12% to $3.46 per gallon in
the period.
CASM ex fuel increased 5.7% to $4.65 cents and adjusted CASM ex fuel
increased 6.3% to $4.28 cents.
Comprehensive financing result represented an
expense of $65 million in the first
quarter of 2023, compared to a $33
million expense in the same period of 2022. For the first
quarter, the average exchange rate was Ps.18.70 per US dollar, an
8.9% appreciation compared to the first quarter of 2022. At the end
of the quarter, the exchange rate stood at Ps.18.11 per US
dollar.
Income tax benefit for the quarter was $25 million, compared to $16 million registered in the same period of
2022.
Net loss in the quarter was $71
million, with loss per share of $0.06 and loss per ADS of $0.62 cents.
EBITDAR for the quarter was $123 million, an increase of 27% despite higher
fuel prices compared to the same period in 2022. EBITDAR
margin stood at 16.8%, a decrease of 0.2 percentage points.
Balance Sheet, Liquidity and Capital Allocation
For the first quarter of 2023, net cash flow provided by
operating activities in the quarter was $208
million, while cash outflows used in investing and financing
activities were $109 million and
$110 million, respectively.
Net debt-to-LTM EBITDAR ratio stood at 3.8 times,
compared to 2.3 times in the same period of 2022 and 3.9 times in
the fourth quarter of 2022.
Fleet
During the first quarter, Volaris redelivered one A319ceo
aircraft and added two A321neo and two A320neo aircraft to its
fleet, bringing the total number of aircraft to 120 as of
March 31, 2023. The fleet has an
average age of 5.4 years and an average seating capacity of 193
passengers per aircraft. Of the total fleet, 56% of the aircraft
were New Engine Option (NEO) models. Volaris plans to increase its
fleet to approximately 125 aircraft by the end of 2023.
|
First
Quarter
|
Fourth
Quarter
|
Total
Fleet
|
2023
|
2022
|
Var
|
2022
|
Var
|
CEO
|
|
|
|
|
|
A319
|
3
|
6
|
(3)
|
4
|
(1)
|
A320
|
40
|
40
|
-
|
40
|
-
|
A321
|
10
|
10
|
-
|
10
|
-
|
NEO
|
|
|
|
|
|
A320
|
50
|
41
|
9
|
48
|
2
|
A321
|
17
|
7
|
10
|
15
|
2
|
Total aircraft end
of period
|
120
|
104
|
16
|
117
|
3
|
Investors are urged to carefully read the Company's periodic
reports filed with or provided to the Securities and Exchange
Commission, for additional information regarding the
Company.
Investor Relations Contact:
Ricardo Martínez /
ir@volaris.com
Media Contact:
Gabriela Fernández /
gabriela.fernandez@volaris.com
Conference call and webcast
details
Date:
|
Tuesday, April
25th, 2023
|
Time:
|
9:00 am Mexico
City / 11:00 am New York (USA) (ET)
|
United States dial
in:
|
+1-844-204-8586
|
Mexico dial
in:
|
+52-55-8880-8040
|
International dial
in:
|
+1-412-317-6346
|
Participant
code:
|
Volaris
|
Replay access
Code:
|
9371069
|
URL for Webcast
& video presentation:
|
Volaris Webcast
|
About Volaris
*Controladora Vuela Compañía de
Aviación, S.A.B. de C.V. ("Volaris" or the "Company") (NYSE: VLRS
and BMV: VOLAR), is an ultra-low-cost carrier, with point-to-point
operations, serving Mexico,
the United States, Central and
South America. Volaris offers low
base fares to build its market, providing quality service and
extensive customer choice. Since the beginning of operations in
March 2006, Volaris has increased its
routes from 5 to more than 202 and its fleet from 4 to 120
aircraft. Volaris offers more than 550 daily flight segments on
routes that connect 43 cities in Mexico and 28 cities in the United States, Central and South America with the youngest fleet in
Mexico. Volaris targets passengers
who are visiting friends and relatives, cost-conscious business and
leisure travelers in Mexico,
the United States, Central and
South America. Volaris has
received the ESR Award for Social Corporate Responsibility for
fourteen consecutive years. For more information, please visit:
www.volaris.com.
Forward-looking Statements
Statements in this release
contain various forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933, as amended, and
Section 21E of the US Securities Exchange Act of 1934, as amended,
which represent the Company's expectations, beliefs or projections
concerning future events and financial trends affecting the
financial condition of our business. When used in this release, the
words "expects," "intends," "estimates," "predicts," "plans,"
"anticipates," "indicates," "believes," "forecast," "guidance,"
"potential," "outlook," "may," "continue," "will," "should,"
"seeks," "targets" and similar expressions are intended to identify
forward-looking statements. Similarly, statements that describe the
Company's objectives, plans or goals, or actions the Company may
take in the future, are forward-looking statements. Forward-looking
statements include, without limitation, statements regarding the
Company's full year outlook and intentions and expectations
regarding the delivery schedule of aircraft on order, amount of
aircrafts at year end, amount of forward bookings during the
holiday season, ability to maintain the load factor, announced new
service routes and customer savings programs. Forward-looking
statements should not be read as a guarantee or assurance of future
performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time those statements are made and/or
management's good faith belief as of that time with respect to
future events and are subject to risks and uncertainties that could
cause actual performance or results to differ materially from those
expressed in or suggested by the forward-looking statements.
Forward-looking statements are subject to several factors that
could cause the Company's actual results to differ materially from
the Company's expectations, including the competitive environment
in the airline industry; the Company's ability to keep costs low;
changes in fuel costs; the impact of worldwide economic conditions
on customer travel behavior; the Company's ability to generate
non-ticket revenue; and government regulation. Additional
information concerning these, and other factors is contained in the
Company's US Securities and Exchange Commission filings. All
forward-looking statements attributable to us or persons acting on
our behalf are expressly qualified in their entirety by the
cautionary statements set forth above. Forward-looking statements
speak only as of the date of this release. You should not put undue
reliance on any forward-looking statements. We assume no obligation
to update forward-looking statements to reflect actual results,
changes in assumptions or changes in other factors affecting
forward-looking information, except to the extent required by
applicable law. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements.
Supplemental information on non-IFRS measures
We
evaluate our financial performance by using various financial
measures that are not performance measures under International
Financial Reporting Standards ("non-IFRS measures"). These non-IFRS
measures include CASM, CASM ex-fuel, Adjusted CASM ex-fuel, EBITDAR
and Net debt-to-LTM EBITDAR. We define CASM as total operating
expenses by available seat mile. We define CASM ex-fuel as total
operating expenses by available seat mile, excluding fuel expense.
We define Adjusted CASM ex fuel as total operating expenses by
available seat mile, excluding fuel expense, aircraft and engine
variable lease expenses and sale and lease back gains. We define
EBITDAR as earnings before interest, income tax, depreciation and
amortization, depreciation of right of use assets and aircraft and
engine variable lease expenses. We define Net debt-to-LTM EBITDAR
as Net debt divided by LTM EBITDAR.
These non-IFRS measures are provided as supplemental information
to the financial information presented in this release that is
calculated and
presented in accordance with International Financial Reporting
Standards ("IFRS"), because we believe that they, in conjunction
with the IFRS financial information, provide useful information to
management's, analysts' and investors' overall understanding of our
operating performance.
Because non-IFRS measures are not calculated in accordance with
IFRS, they should not be considered superior to and are not
intended to be considered in isolation or as a substitute for the
related IFRS measures presented in this release and may not be the
same as or comparable to
similarly titled measures presented by other companies due to
possible differences in the method of calculation and in the items
being adjusted.
We encourage investors to review our financial statements and
other filings with the Securities and Exchange Commission in their
entirety for additional information regarding the Company and not
to rely on any single financial measure.
Controladora Vuela Compañía de Aviación,
S.A.B. de C.V. and Subsidiaries
Financial and Operating Indicators
Unaudited
(In U.S. dollars, except otherwise indicated)
|
Three months
ended
March 31,
2023
|
Three months
ended
March 31,
2022
|
Variance
|
|
|
|
|
Total operating
revenues (millions)
|
731
|
567
|
28.9 %
|
|
|
Total operating
expenses (millions)
|
762
|
598
|
27.4 %
|
|
|
EBIT
(millions)
|
(31)
|
(31)
|
0.0 %
|
|
|
EBIT margin
|
(4.3 %)
|
(5.5 %)
|
1.3 pp
|
|
|
Depreciation and
amortization (millions)
|
119
|
95
|
25.3 %
|
|
|
Aircraft and engine
variable lease expenses (millions)
|
35
|
33
|
6.1 %
|
|
|
Net loss
(millions)
|
(71)
|
(49)
|
44.9 %
|
|
|
Net loss
margin
|
(9.7 %)
|
(8.7 %)
|
(1.0 pp)
|
|
|
Loss per share
(6):
|
|
|
|
|
|
Basic
|
(0.06)
|
(0.04)
|
44.8 %
|
|
|
Diluted
|
(0.06)
|
(0.04)
|
44.4 %
|
|
|
Loss per
ADS*:
|
|
|
|
|
|
Basic
|
(0.62)
|
(0.42)
|
44.8 %
|
|
|
Diluted
|
(0.61)
|
(0.42)
|
44.8 %
|
|
|
Weighted average
shares outstanding:
|
1,165,976,677
|
1,165,976,677
|
0.0 %
|
|
|
Financial
Indicators
|
|
|
|
|
|
Total operating revenue
per ASM (TRASM) (cents) (1)
|
7.71
|
7.04
|
9.5 %
|
|
|
Average base fare per
passenger
|
47
|
46
|
2.4 %
|
|
|
Total ancillary revenue
per passenger (3)
|
42
|
35
|
20.2 %
|
|
|
Total operating revenue
per passenger
|
89
|
81
|
10.1 %
|
|
|
Operating expenses per
ASM (CASM) (cents) (1)
|
8.03
|
7.42
|
8.2 %
|
|
|
CASM ex fuel (cents)
(1)
|
4.65
|
4.40
|
5.7 %
|
|
|
Adjusted CASM ex fuel
(cents) (1) (5)
|
4.28
|
4.03
|
6.3 %
|
|
|
Operating
Indicators
|
|
|
|
|
|
Available seat miles
(ASMs) (millions) (1)
|
9,488
|
8,061
|
17.7 %
|
|
|
Domestic
|
6,537
|
5,682
|
15.0 %
|
|
|
International
|
2,951
|
2,379
|
24.1 %
|
|
|
Revenue passenger miles
(RPMs) (millions) (1)
|
8,067
|
6,728
|
19.9 %
|
|
|
Domestic
|
5,546
|
4,895
|
13.3 %
|
|
|
International
|
2,521
|
1,833
|
37.5 %
|
|
|
Load factor
(2)
|
85.0 %
|
83.5 %
|
1.6 pp
|
|
|
Domestic
|
84.8 %
|
86.2 %
|
(1.3 pp)
|
|
|
International
|
85.4 %
|
77.1 %
|
8.4 pp
|
|
|
Booked passengers
(thousands) (1)
|
8,186
|
6,989
|
17.1 %
|
|
|
Domestic
|
6,440
|
5,676
|
13.5 %
|
|
|
International
|
1,746
|
1,313
|
33.0 %
|
|
|
Departures
(1)
|
50,191
|
44,938
|
11.7 %
|
|
|
Block hours
(1)
|
130,549
|
113,413
|
15.1 %
|
|
|
Aircraft at end of
period
|
120
|
104
|
16
|
|
|
Average aircraft
utilization (block hours)
|
13.52
|
13.26
|
2.0 %
|
|
|
Fuel gallons accrued
(millions)
|
92.23
|
77.22
|
19.4 %
|
|
|
Average economic fuel
cost per gallon (4)
|
3.46
|
3.10
|
11.6 %
|
|
|
Average exchange
rate
|
18.70
|
20.52
|
(8.9 %)
|
|
|
End of period exchange
rate
|
18.11
|
19.99
|
(9.4 %)
|
|
|
*Each ADS represents
ten CPOs and each CPO represents a financial interest in one Series
A share.
|
|
|
(1) Includes schedule
and
charter.
(2) Includes schedule.
(3) Includes "Other
passenger revenues" and "Non-passenger revenues".
(4) Excludes
Non-creditable VAT.
(5) Excludes fuel
expense, aircraft and engine variable lease expenses and sale and
lease-back gains.
|
(6) The basic and
diluted loss or earnings per share are calculated in accordance
with IAS 33. Basic loss or earnings per share is calculated by
dividing net loss or earnings by the average number of shares
outstanding (excluding treasury shares). Diluted loss or earnings
per share is calculated by dividing net loss or earnings by the
average number of shares outstanding adjusted for dilutive
effects.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Controladora Vuela Compañía de Aviación,
S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Operations
Unaudited
(In millions of U.S. dollars)
|
Three months
ended
March 31,
2023
|
Three months
ended
March 31,
2022
|
Variance
|
|
|
|
|
Operating
revenues:
|
|
|
|
|
|
Passenger
revenues
|
701
|
542
|
29.3 %
|
|
|
Fare
revenues
|
387
|
322
|
20.2 %
|
|
|
Other
passenger revenues
|
314
|
219
|
43.4 %
|
|
|
|
|
|
|
|
|
Non-passenger
revenues
|
30
|
25
|
20.0 %
|
|
|
Other
non-passenger revenues
|
26
|
22
|
18.2 %
|
|
|
Cargo
|
4
|
3
|
33.3 %
|
|
|
|
|
|
|
|
|
Total operating
revenues
|
731
|
567
|
28.9 %
|
|
|
|
|
|
|
|
|
Other operating
income
|
-
|
(3)
|
(100.0 %)
|
|
|
Fuel expense
|
321
|
243
|
32.1 %
|
|
|
Landing, take-off and
navigation expenses
|
110
|
92
|
19.6 %
|
|
|
Salaries and
benefits
|
91
|
67
|
35.8 %
|
|
|
Depreciation of right
of use assets
|
88
|
75
|
17.3 %
|
|
|
Aircraft and engine
variable lease expenses
|
35
|
33
|
6.1 %
|
|
|
Sales, marketing and
distribution expenses
|
35
|
25
|
40.0 %
|
|
|
Maintenance
expenses
|
26
|
26
|
0.0 %
|
|
|
Other operating
expenses
|
25
|
20
|
25.0 %
|
|
|
Depreciation and
amortization
|
31
|
20
|
55.0 %
|
|
|
Operating
expenses
|
762
|
598
|
27.4 %
|
|
|
|
|
|
|
|
|
Operating
loss
|
(31)
|
(31)
|
0.0 %
|
|
|
|
|
|
|
|
|
Finance
income
|
7
|
1
|
600.0 %
|
|
|
Finance cost
|
(58)
|
(47)
|
23.4 %
|
|
|
Exchange (loss) gain,
net
|
(14)
|
13
|
N/A
|
|
|
Comprehensive
financing result
|
(65)
|
(33)
|
97.0 %
|
|
|
|
|
|
|
|
|
Loss before income
tax
|
(96)
|
(65)
|
47.7 %
|
|
|
Income tax
benefit
|
25
|
16
|
56.3 %
|
|
|
Net
loss
|
(71)
|
(49)
|
44.9 %
|
|
|
|
|
|
|
|
|
|
|
|
Controladora Vuela Compañía de Aviación,
S.A.B. de C.V. and Subsidiaries
Reconciliation of total ancillary revenue per
passenger
The following table shows quarterly additional detail about the
components of total ancillary revenue:
Unaudited
|
Three months ended
March 31, 2023
|
Three months ended
March 31, 2022
|
Variance
|
(In millions of U.S.
dollars)
|
|
|
|
|
Other passenger
revenues
|
314
|
219
|
43.4 %
|
Non-passenger
revenues
|
30
|
25
|
20.0 %
|
Total ancillary
revenues
|
344
|
245
|
40.4 %
|
|
|
|
|
Booked passengers
(thousands) (1)
|
8,186
|
6,989
|
17.1 %
|
|
|
|
|
Total ancillary
revenue per passenger
|
42
|
35
|
20.2 %
|
|
|
|
|
(1) Includes schedule and charter.
Controladora Vuela Compañía de Aviación,
S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Financial Position
|
March 31,
2023
Unaudited
|
December 31,
2022
Audited
|
(In millions of U.S.
dollars)
|
Assets
|
|
|
Cash, cash equivalents
and restricted cash
|
704
|
712
|
Accounts receivable,
net
|
285
|
240
|
Inventories
|
15
|
16
|
Prepaid expenses and
other current assets
|
41
|
33
|
Assets
held-for-sale
|
-
|
1
|
Guarantee
deposits
|
54
|
64
|
Total current
assets
|
1,099
|
1,066
|
Rotable spare parts,
furniture and equipment, net
|
562
|
479
|
Right of use
assets
|
2,210
|
2,181
|
Intangible assets,
net
|
12
|
13
|
Derivatives Financial
Instruments
|
2
|
2
|
Deferred income
taxes
|
246
|
208
|
Guarantee
deposits
|
497
|
484
|
Other long- term
assets
|
37
|
35
|
Total non-current
assets
|
3,566
|
3,402
|
Total
assets
|
4,665
|
4,468
|
Liabilities
|
|
|
Unearned transportation
revenue
|
444
|
346
|
Accounts
payable
|
177
|
209
|
Accrued
liabilities
|
192
|
188
|
Lease
Liabilities
|
345
|
336
|
Other taxes and fees
payable
|
319
|
218
|
Income taxes
payable
|
11
|
6
|
Financial
debt
|
155
|
112
|
Other
liabilities
|
6
|
5
|
Total short-term
liabilities
|
1,649
|
1,420
|
Financial
debt
|
149
|
161
|
Accrued
liabilities
|
15
|
14
|
Lease
Liabilities
|
2,403
|
2,373
|
Other
liabilities
|
259
|
244
|
Employee
benefits
|
12
|
11
|
Deferred income
taxes
|
14
|
10
|
Total long-term
liabilities
|
2,852
|
2,813
|
Total
liabilities
|
4,501
|
4,233
|
Equity
|
|
|
Capital
stock
|
248
|
248
|
Treasury
shares
|
(13)
|
(13)
|
Contributions for
future capital increases
|
-
|
-
|
Legal
reserve
|
17
|
17
|
Additional paid-in
capital
|
284
|
283
|
Accumulated
deficit
|
(227)
|
(156)
|
Accumulated other
comprehensive loss
|
(145)
|
(144)
|
Total
equity
|
164
|
235
|
Total liabilities
and equity
|
4,665
|
4,468
|
|
|
|
|
Controladora Vuela Compañía de Aviación,
S.A.B. de C.V. and Subsidiaries
Consolidated Statement of Cash Flows – Cash Flow
Data Summary
Unaudited
(In millions of U.S. dollars)
|
Three months ended
March 31, 2023
|
Three months ended
March 31, 2022
|
|
|
|
|
|
|
|
|
|
Net cash flow provided
by operating activities
|
208
|
196
|
|
|
Net cash flow used in
investing activities
|
(109)
|
(6)
|
|
|
Net cash flow used in
financing activities*
|
(110)
|
(183)
|
|
|
(Decrease)
increase in cash, cash equivalents and
restricted
cash
|
(11)
|
7
|
|
|
Net foreign exchange
differences
|
3
|
2
|
|
|
Cash, cash equivalents
and restricted cash at beginning of period
|
712
|
741
|
|
|
Cash, cash
equivalents and restricted cash at end of period
|
704
|
750
|
|
|
*Includes aircraft
rental payments of $127 million and $112 million for the three
months ended period March 31, 2023, and 2022,
respectively.
|
|
|
1 The financial information, unless otherwise
indicated, is presented in accordance with the International
Financial Reporting Standards (IFRS).
2 Aircraft redeliveries.
View original
content:https://www.prnewswire.com/news-releases/volaris-reports-financial-results-for-the-first-quarter-2023-301806169.html
SOURCE Controladora Vuela Compania de Aviacion, S.A.B. de C.V. -
Volaris