MEXICO CITY, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) ("Volaris" or "the Company"), the ultra-low-cost carrier $(ULCC)$ serving Mexico, the United States, Central and South America, today reports its unaudited financial results for the fourth quarter and full year 2025(1) .
Enrique Beltranena, President & Chief Executive Officer, said: "In 2025, Volaris once again demonstrated the resilience of our ultra-low-cost model and the strength of our market positioning. We responded swiftly to evolving geopolitical and industry dynamics, moderating capacity to protect profitability, controlling unit costs, and preserving affordability for our customers. By year-end, improving travel sentiment and the continued evolution of our low-cost, low-complexity product offering drove higher revenue per passenger and greater penetration of higher-yielding segments.
Looking ahead to 2026, we expect approximately 7% ASM growth, aligned with our disciplined capacity deployment strategy and strategically weighted towards the cross-border market. Importantly, this outlook is supported by a meaningful reduction in engine-related aircraft on ground -- from 41 in January to 25 by year-end. While the pull-forward of maintenance activity and higher redelivery accruals will temporarily pressure unit costs early in the year, these proactive actions position us to restore fleet availability sooner, improve profitability as the year progresses, and narrow the EBITDAR-to-EBIT margin spread by approximately four percentage points. We are confident in the next phase of our growth as we continue refining our network and product, maintaining operational discipline, and delivering long-term shareholder value."
Fourth Quarter 2025 Highlights
(All figures are reported in U.S. dollars and compared to 4Q 2024, unless otherwise noted)
-- Net income of $4 million. Earnings per American Depositary Share (ADS) of
$4 cents.
-- Total operating revenues of $882 million, a 6% increase.
-- Total revenue per available seat mile (TRASM) stood at $9.35 cents,
remaining effectively flat.
-- Available seat miles (ASMs) increased by 6% to 9.4 billion.
-- Total operating expenses of $782 million, compared with $718 million in
the previous year.
-- Total operating expenses per available seat mile (CASM) increased 3% to
$8.29 cents.
-- Average economic fuel cost increased 6% to $2.65 per gallon.
-- CASM ex fuel increased 1% to $5.76 cents.
-- EBITDAR remained essentially stable at $328 million.
-- EBITDAR margin was 37.2%, down by 2.4 percentage points.
-- Total cash, cash equivalents, and short-term investments totaled $774
million, representing 25% of the last twelve months' total operating
revenue.
-- Net debt-to-LTM EBITDAR2 ratio of 3.1x, remaining unchanged when compared
to the previous quarter.
(1) The financial information, unless otherwise indicated, is presented in accordance with the International Financial Reporting Standards (IFRS).
(2) Includes short-term investments.
Full Year 2025 Highlights
(All figures are reported in U.S. dollars and compared to FY 2024, unless otherwise noted)
-- Net loss of $104 million. Loss per American Depositary Share (ADS) of $91
cents.
-- Total operating revenues of $3,038 million, a 3% decrease.
-- Total revenue per available seat mile (TRASM) decreased 9% to $8.41
cents.
-- Available seat miles (ASMs) increased 6% to 36.1 billion.
-- Total operating expenses of $2,903 million, compared with $2,729 million
in the previous year.
-- Total operating expenses per available seat mile (CASM) remained
essentially flat at $8.04 cents.
-- Average economic fuel cost decreased 6% to $2.59 per gallon.
-- CASM ex fuel increased 4% to $5.58 cents.
-- EBITDAR of $988 million, a 13% decrease.
-- EBITDAR margin was 32.5%, a decrease of 3.8 percentage points.
Fourth Quarter and Full Year 2025 Consolidated Financial and Operating Highlights
(All figures are reported in U.S. dollars and compared to 4Q 2024 and FY 2024, unless otherwise noted)
Fourth Quarter Full Year
Consolidated Financial
Highlights 2025 2024 Var. 2025 2024 Var.
Total operating revenues
(millions) 882 835 5.6 % 3,038 3,142 (3.3%)
TRASM (cents) 9.35 9.35 0.0% 8.41 9.24 (9.0%)
ASMs (millions, scheduled &
charter) 9,429 8,930 5.6% 36,118 33,990 6.3%
Load Factor (scheduled,
RPMs/ASMs) 85.1% 87.3% (2.2 pp) 84.3% 86.8% (2.5 pp)
Passengers (thousands,
scheduled & charter) 8,191 7,848 4.4% 30,995 29,473 5.2%
Fleet (at the end of the
period) 155 143 12 155 143 12
---------------------------- ----- ----- -------- ------ ------ --------
Total operating expenses
(millions) 782 718 8.9 % 2,903 2,729 6.4 %
CASM (cents) 8.29 8.04 3.2% 8.04 8.03 0.1%
CASM ex fuel (cents) 5.76 5.68 1.4% 5.58 5.40 3.5%
Adjusted CASM ex fuel
(cents)(3) 5.26 5.25 0.1% 5.12 5.09 0.5%
---------------------------- ----- ----- -------- ------ ------ --------
Operating income $(EBIT)$
(millions) 100 117 (14.5%) 135 413 (67.3%)
% EBIT Margin 11.3% 14.0% (2.7 pp) 4.4% 13.2% (8.7 pp)
---------------------------- ----- ----- -------- ------ ------ --------
Net income (loss) (millions) 4 46 (91.3%) (104) 126 N/A
% Net income (loss) Margin 0.5% 5.5% (5.0 pp) (3.4%) 4.0% (7.5 pp)
---------------------------- ----- ----- -------- ------ ------ --------
EBITDAR (millions) 328 331 (0.9%) 988 1,141 (13.4%)
% EBITDAR Margin 37.2% 39.6% (2.4 pp) 32.5% 36.3% (3.8 pp)
---------------------------- ----- ----- -------- ------ ------ --------
Net debt-to-LTM EBITDAR(4) 3.1x 2.6x 0.5x 3.1x 2.6x 0.5x
Note: Figures are rounded for convenience purposes.
Further detail found in financial and operating indicators.
(3) Excludes fuel expense, aircraft and engine variable
lease expenses and sale and leaseback gains.
(4) Includes short-term investments.
Reconciliation of CASM to Adjusted CASM ex fuel:
Fourth Quarter Full Year
Reconciliation of CASM 2025 2024 Var. 2025 2025 Var.
-------
CASM (cents) 8.29 8.04 3.2% 8.04 8.03 0.1%
Fuel expense (2.53) (2.36) 7.1% (2.46) (2.63) (6.4%)
---------------------------- ------ ------ ------- ------ ------ -------
CASM ex fuel 5.76 5.68 1.4% 5.58 5.40 3.5%
Aircraft and engine variable
lease expenses(5) (0.61) (0.58) 5.1% (0.54) (0.40) 36.5%
Sale and lease back gains 0.11 0.15 (27.6%) 0.08 0.09 (14.3%)
---------------------------- ------ ------ ------- ------ ------ -------
Adjusted CASM ex fuel 5.26 5.25 0.1% 5.12 5.09 0.5%
Note: Figures are rounded for convenience purposes.
Further detail found in financial and operating indicators.
(5) Aircraft redeliveries.
Fourth Quarter 2025
(All figures are reported in U.S. dollars and compared to 4Q 2024, unless otherwise noted)
Total operating revenues for the quarter amounted to $882 million, up by 5.6%.
Total capacity, in terms of available seat miles (ASMs), was 9.4 billion, representing a 5.6% increase.
Booked passengers totaled 8.2 million, a 4.4% increase. Mexican domestic booked passengers increased 2.9%, while international booked passengers increased 8.4%.
TRASM remained effectively flat at $9.35 cents, mainly driven by a 6.1% increase in total ancillary revenue per passenger, which stood at $60.
The average base fare per passenger stood at $47, a 4.4% decrease. Total operating revenue per passenger totaled $108, increasing 1.2%. During the quarter, ancillary revenues represented 55.9% of total operating revenues.
The load factor for the quarter reached 85.1%, representing a 2.2 percentage point decrease.
Total operating expenses were $782 million, compared with $718 million in the previous year.
CASM totaled $8.29 cents, up 3.2%.
The average economic fuel cost increased 5.5% to $2.65 per gallon.
CASM ex fuel increased 1.4% to $5.76 cents, reflecting strong cost control despite flying fewer ASMs than planned during the quarter, and the impact of a stronger Mexican peso.
Comprehensive financing result represented an expense of $63 million, compared to a $76 million expense in the same period of 2024.
Income tax expense was $33 million, compared with a $5 million benefit registered in the fourth quarter of 2024.
Net income in the quarter was $4 million, with earnings per ADS of $4 cents.
EBITDAR for the quarter remained stable compared to the previous year, reaching $328 million. EBITDAR margin stood at 37.2%, down 2.4 percentage points.
Cash Flow
For the fourth quarter, net cash flow provided by operating and investing activities was $252 million and $2 million, respectively. Net cash flow used in financing activities was $280 million.
Full Year 2025
(All figures are reported in U.S. dollars and compared to FY 2024, unless otherwise noted)
Total operating revenues for the year amounted to $3,038 million, a 3.3% decrease.
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