VLRS - Volaris' Growth and Earnings Momentum Continues
For most airlines, 2021 was the beginning of a multiyear recovery from the ravages of the COVID-19 pandemic. However, for Volaris (NYSE: VLRS) , revenue and earnings surged well beyond pre-pandemic levels over the past year. On Thursday evening, the Mexican budget airline reported another quarter of excellent results to close out the year.
Over the past two years, Volaris has solidified its position as the largest and strongest airline in Mexico. It gained market share as key rivals were forced to shrink, enabling the company to emerge with higher market share and capitalize on a robust demand recovery beginning last spring.
In the second quarter of 2021, Volaris' revenue jumped 38% compared to Q2 2019, as revenue per available seat mile (RASM) rose 22%. A quarter later, RASM growth moderated to 12%, but the company still posted a 35% revenue gain relative to the third quarter of 2019.
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Volaris' Growth and Earnings Momentum Continues