Posted on: 22 April 2015 by Ross McSweeny
Volaris has announced its financial results for the first quarter of 2015 (1Q15), featuring a net income of Ps306 million, with a net margin of 8.1%, a net margin improvement of 21.4 percentage points over the same period last year (1Q14).
Total 1Q15 operating revenues reached Ps3,768 million, an increase of 35.8% year-over-year. Non-ticket revenues in 1Q15 increased 64.6% with non-ticket revenue per passenger increasing 41.6% to Ps337. The total operating revenue per available seat mile (TRASM) increased to 123.8 Mexican cents in 1Q15, an increase of 22.4% year over year.
Operating expenses per available seat mile (CASM) in 1Q15 decreased 5.5% year over year to 112.5 Mexican cents.
During 1Q15, the net increase of cash and cash equivalents was Ps862 million mainly driven by the resources provided by operating activities of Ps949 million. Unrestricted cash and cash equivalents was Ps3,156 million ($208 million), representing 21% of the last twelve month’s total revenues.
Volaris’s CEO Enrique Beltranena commented, "Volaris's strong performance for the first three months of 2015 are evidence of the hard work and excellent execution to improve financial performance following a very challenging year. We continue to diversify our network and strengthen our unbundled product strategy, increasing our international presence and growing non-ticket revenues while maintaining cost discipline. We are committed to continue building solid foundations towards a strong and profitable 2015."
Volaris booked 2.5 million passengers in 1Q15, up 16.2% over 1Q14. Revenue passenger miles increased by 10.0% for the respective periods.