Mexico · Delayed Price · Currency is MXN Controladora Vuela Compañía de Aviación Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong revenue and cash growth despite record fuel costs, with all routes cash positive and international expansion driving results. Guidance for Q3 and full-year 2026 points to higher margins, disciplined capacity, and continued fleet optimization.
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Revenue rose 14% year-over-year to $770M, driven by higher fares and strong ancillary growth, but higher fuel costs led to a net loss of $71M. Capacity growth was trimmed to 4% for 2026, with further flexibility as conditions evolve.
Fiscal Year 2025
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Q4 2025 saw 5.6% capacity growth, strong ancillary revenue, and a 37.2% EBITDA margin, despite engine-related disruptions. 2026 guidance targets 7% ASM growth, improved leverage, and continued international expansion, with merger plans underway with Viva.
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A new airline group will be formed through a merger of equals, with both carriers retaining their brands and leadership while leveraging significant synergies in cost, scale, and network. The deal targets sustainable growth, improved financial stability, and expanded connectivity, pending regulatory and shareholder approvals.
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Q3 2025 saw disciplined execution, with revenues of $784M and EBITDA margin of 33.6%. Ancillary revenues remained strong, and demand recovery, especially in cross-border markets, is driving improved outlook. Guidance for 2025 and 2026 remains positive, with prudent capacity and cost control.
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Q2 2025 results exceeded guidance with a 28% EBITDA margin, strong ancillary revenue, and disciplined cost control. Full-year ASM growth is now expected at 7%, with EBITDA margin guidance reinstated at 32%-33%. Engine groundings and macro uncertainty persist, but demand and liquidity remain robust.
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Q1 2025 results met guidance despite revenue and yield pressures from peso depreciation and geopolitical volatility. Capacity growth was moderated, with strong ancillary revenue and operational reliability supporting resilience. Guidance for 2025 was revised downward, with a focus on flexibility, cost control, and cash preservation.
Fiscal Year 2024
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Delivered strong profitability in 2024 despite engine groundings, with net income of $126 million and a 36% EBITDA margin. Capacity and revenue were stable, driven by record ancillary sales and loyalty program growth. 2025 guidance anticipates 13% ASM growth, ongoing cost pressures, and continued focus on operational resilience.
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Delivered strong Q3 results with net income, record EBITDAR, and improved margins despite capacity cuts and engine inspections. Raised full-year EBITDA margin guidance to 36% and expects capacity to return to 2023 levels by H2 2025.
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Q2 2024 saw record EBITDA despite 17% lower capacity from engine groundings, with strong cost control and robust ancillary revenue. Guidance improved for 2024, with gradual capacity restoration expected and continued focus on profitability and network flexibility.