Volaris Reports Financial Results for the Third Quarter 2026: $1 Billion Revenue, up 32% YoY

PRESS RELEASE GlobeNewswire
Oct. 26, 2026, 05:30 PM

MEXICO CITY, Oct. 26, 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 third quarter 2026¹.

Enrique Beltranena, President & Chief Executive Officer, said: “Our strong commercial performance in the third quarter marked a historic milestone for Volaris: we achieved double-digit TRASM for the first time in our history, with quarterly operating revenues crossing the US$1 billion mark, driven by both ancillary growth and fare strength. We entered the summer peak with a clear plan—and delivered. Strong demand absorbed our additional capacity, while our expanding transborder network, disciplined capacity allocation, and improving aircraft productivity reinforced our competitive position.

We delivered positive EBIT, an outcome not anticipated in our original outlook, and reduced our net loss by nearly 80% sequentially. Despite higher-than-anticipated fuel costs, we preserved US$823 million in liquidity, broadly unchanged quarter-over-quarter. Together, these achievements validate our strategy and reinforce the strength and resilience of our ultra-low-cost model, and our ability to turn disciplined execution into tangible results.”

Third Quarter 2026 Highlights
(All figures are reported in U.S. dollars and compared to 3Q 2025, unless otherwise noted)

• Net lossof $26 million. Loss per American Depositary Share (ADS) of 23 cents.
• Total operating revenuesof $1,038 million, a 32% increase.
• Total revenue per available seat mile (TRASM) stood at 10.31 cents, increasing by 19%.
• Available seat miles (ASMs) increased by 11% to 10.1 billion.
• Total operating expenses of $1,004 million, compared with $716 million in the previous year.
• Total operating expenses per available seat mile (CASM)increased 26% to 9.97 cents.
• Average economic fuel cost increased 57% to $4.10 per gallon.
• CASM ex fuel increased 14% to 6.23 cents.
• EBITDARremained essentially stable at $263 million.
• EBITDAR margin was 25.3%, down by 8.3 percentage points.
• Total cash, cash equivalents, and short-term investmentstotaled $823 million, representing 23% of the last twelve months’ total operating revenue.
• Net debt-to-LTM EBITDAR² ratio of 3.3x, unchanged from 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./

Third Quarter 2026 Consolidated Financial and Operating Highlights
(All figures are reported in U.S. dollars and compared to 3Q 2025, unless otherwise noted)

Total operating revenues for the quarter amounted to $1,038 million, up by 32.4%.

Total capacity, in terms of available seat miles (ASMs), was 10.1 billion, representing an 11.1% increase.

Booked passengers totaled 9.0 million, a 14.3% increase. Mexican domestic booked passengers increased 13.7%, while international booked passengers increased 16.0%.

TRASM increased 19.2% to 10.31 cents, primarily driven by a 25.5% increase in average base fare, which
reached $55 during the quarter. TRASM was further supported by an 8.4% increase in total ancillary revenue per passenger, which stood at $61.

Total operating revenue per passenger totaled $116, increasing 15.8%. During the quarter, ancillary revenues represented 52.8% of total operating revenues.

The load factor for the quarter reached 85.7%, representing a 1.3 percentage point increase.

Total operating expenses were $1,004 million, compared with $716 million in the previous year.

CASM totaled 9.97 cents, up 26.2%.

The average economic fuel cost increased 57.4%, reaching $4.10 per gallon.

CASM ex fuel stood at 6.23 cents,up 13.7% year-over-year, but below guidance, supported by improved fixed-cost absorption from higher-than-planned capacity and continued cost efficiencies.

Comprehensive financing result represented an expense of $75 million, compared to a $59 million expense in the same period of 2025.

Income tax benefit was $15 million, compared with a $3 million expense recorded in the third quarter of 2025. The Company expects the effective tax rate to be approximately in line with the statutory rate by the end of the fiscal year.

Net lossin the quarter was $26 million, with loss per ADS of 23 cents.

EBITDAR for the quarter reached $263 million, representing a 0.4% decrease. EBITDAR margin stood at 25.3%, down 8.3 percentage points.

Balance Sheet, Liquidity, and Capital Allocation

As of September 30, 2026, cash, cash equivalents and short-term investments were $823 million, representing 23.2% of the last twelve months’ total operating revenue.

Net cash flow provided by operating and investing activities was $234 million and $36 million, respectively. Net cash flow used in financing activities was $271 million.

The financial debt amounted to $598 million, reflecting a decrease of 14.9% compared to the end of 2025, while total lease liabilities increased slightly by 1.4% to $3,196 million.

Net debt-to-LTM EBITDAR⁴ ratio stood at 3.3x, unchanged from the previous quarter, and compared to 3.1x at the end of 2025.

The average exchange rate for the quarter was Ps.17.25 per U.S. dollar, reflecting a 7.5% appreciation of the Mexican peso. At the end of September, the exchange rate stood at Ps.17.84 per U.S. dollar, compared to Ps. 18.38 per U.S. dollar in the previous year, reflecting a 2.9% appreciation of the Mexican peso.

⁴ Includes short-term investments.

Updated Full Year 2026 Guidance

For the full year 2026, the Company expects:

(1) For convenience purposes, actual reported figures for 2025 are included.
(2) CAPEX net of financed fleet predelivery payments.
Note: Full-year 2026 average USD/MXN exchange rate (Ps. 17.73) and average U.S. Gulf Coast jet fuel price ($3.58 per gallon) are implied by the 4Q’26 guidance assumptions.

For the fourth quarter of 2026, the Company expects:

(1) For convenience purposes, actual reported figures for 4Q’25 are included.

The fourth quarter and full year 2026 outlook presented above includes the compensation that Volaris expects to receive for the projected grounded aircraft resulting from the GTF engine inspections, in accordance with the Company’s agreement with Pratt & Whitney.

The Company’s outlook is subject to unforeseen disruptions, macroeconomic factors, or other negative impacts that may affect its business and is based on several assumptions, including the foregoing, which are subject to change and may be outside the control of the Company and its management. The Company’s expectations may change if actual results vary from these assumptions. There can be no assurances that Volaris will achieve these results.

During the third quarter, Volaris added one A320neo and two A321neo’s to its fleet, and retired four A320ceo’s, bringing the total number of aircraft to 154. At the end of the quarter, Volaris’ fleet had an average age of 6.7 years and an average seating capacity of 201 passengers per aircraft. Of the total fleet, 71% of the aircraft are New Engine Option (NEO) models.

Proposed Airline Group Formation

In December 2025, Volaris announced the proposed formation of a new Mexican airline group with Viva, aimed at expanding access to affordable air travel across the region and strengthening the Mexican aviation industry. The airline group would enable two ultra-low-cost operators with complementary networks and shared customer value propositions to broaden access to point-to-point travel solutions, while retaining their independent operating certificates and brands, preserving existing passenger options. Closing is expected in 2026, subject to customary regulatory approvals and closing conditions. For more information, please visit www.anunciovivayvolaris.com.

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.

Liliana Juárez / ir@volaris.com

Media Contact
Ricardo Flores / rflores@gcya.net

*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 247 and its fleet from 4 to 154 aircraft. Volaris offers more than 500 daily flight segments on routes that connect 46 cities in Mexico and 34 cities in the United States, Central and South America, with one of the youngest fleets 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. For more information, please visit ir.volaris.com. Volaris routinely posts information that may be important to investors on its investor relations website. The Company encourages investors and potential investors to consult the Volaris website regularly for important information about Volaris.

Statements in this release contain various forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. 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 describing the Company’s objectives, plans or goals, or actions the Company may take in the future are forward-looking. Forward-looking statements include, without limitation, statements regarding the Company’s outlook, the expectation of receiving certain compensation in connection with the GTF engine removals, and the anticipated execution of its business plan and focus on its 2025 priorities. Forward-looking statements should not be read as a guarantee or assurance of future performance or results. They 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 concerning 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. The Company’s U.S. Securities and Exchange Commission filings contain additional information concerning these and other factors. 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, EBITDAR, Net debt-to-LTM EBITDAR, Total cash, cash equivalents and short-term investments. 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 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. We define Total cash, cash equivalents and short-term investments as the sum of cash, cash equivalents and short-term investments.

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 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.

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.SHARE THIS POST

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