MEXICO CITY--(BUSINESS WIRE)--Volaris* (NYSE:VLRS and BMV:VOLAR), the ultra-low-cost airline serving Mexico, the United States and Central America, today announced its financial results for the second quarter 2015.
The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS).
Second Quarter 2015 Highlights
- Total operating revenues were Ps.4,099 million for the second quarter, an increase of 23.9% year over year.
- Non-ticket revenues increased 48.3% for the second quarter year over year to Ps.977 million. Non-ticket revenue per passenger increased 23.2% to Ps.339 for the second quarter.
- Total operating revenue per available seat mile (TRASM) rose to Ps.123.0 cents for the second quarter, an increase of 8.7% year over year.
- Operating expenses per available seat mile (CASM) decreased 3.3% for the second quarter year over year to Ps.112.5 cents.
- Adjusted EBITDAR for the second quarter was Ps.1,281 million, an increase of 115.3% year over year with an Adjusted EBITDAR margin of 31.2%, a margin expansion of 13.2 percentage points.
- Operating income reached Ps.349 million with an operating margin of 8.5% for the second quarter, a year over year operating margin improvement of 11.4 percentage points.
- Net income was Ps.351 million (Ps.0.35 per share / US$0.22 per ADS) with a net margin of 8.6% for the second quarter, a year over year net margin improvement of 10.9 percentage points.
- During the second quarter the net increase of cash and cash equivalents was Ps.872 million mainly driven by cash flow from operating activities of Ps.947 million. Unrestricted cash and cash equivalents was Ps.4,028 million, representing 25.5% of the last twelve month total operating revenues.
Volaris´ CEO Enrique Beltranena commented: “During the second quarter we continued to see improving market dynamics driven by solid demand and growing customer acceptance of the Volaris ULCC model. We continue to drive our growth through an expanding international presence while maintaining cost discipline and executing our business plan that is focused on generating shareholder value.”
Improving Although Still Volatile Macroeconomic Environment
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The Mexican macroeconomic environment:
- GDP growth for the first quarter 2015 of 2.5% year over year.
- Consumer confidence increased 1.2%, 1.4% and 4.1% year over year in April, May and June of 2015, respectively.
- The Mexican General Economic Activity Indicator (IGAE) increased 1.5% year over year in May of 2015.
- Exchange rate volatility: The Mexican peso depreciated 17.7% year over year against the US dollar, as the exchange rate devalued from an average of Ps.13.00 pesos per US dollar in the second quarter 2014 to Ps.15.31 pesos per US dollar during the second quarter 2015.
- Lower fuel prices: The average economic fuel cost per gallon decreased 21.3% year over year in the second quarter 2015 to Ps.31.01 per gallon.
- Air traffic volume increase: The Mexican DGAC reported an overall passenger volume growth for Mexican carriers of 13.6% from January to May 2015 year over year.
Focus on Non-Ticket Revenue Growth and Revenue Management Results in Unit Revenue Improvement
- Unit revenue improvement and capacity management: TRASM and yield increased 8.7% and 1.7% for the second quarter year over year, respectively, as a result of a stable domestic and international fare environment. Domestic capacity grew 7.3%, reflecting increasing market demand and supporting yield recovery, while international capacity increased 34.6%.
- Non-ticket revenues growth: Non-ticket revenues per passenger increased 23.2% year over year for the second quarter as the company refined the ancillary combos, implemented new commission based products in the booking flow and introduced new a la carte products. In addition, performance of the cobranded credit card improved.
- New routes launch: In the second quarter, Volaris launched seven new routes (three domestic and four international).
Second Quarter Operating Revenues: Directed Growth while Managing Capacity for Profitability Delivers Solid Traffic and Revenue Results
Volaris booked 2.9 million passengers in the second quarter of 2015, a 20.4% year over year growth rate. Volaris traffic (measured in terms of revenue passenger miles, or RPMs) increased 15.8%. Volaris’ passenger market share among Mexican carriers was 23.4% in both domestic and international markets, the second largest share.
Volaris’ total operating revenues were Ps.4,099 million in the second quarter, an increase of 23.9% year over year. Non-ticket revenue and non-ticket revenue per passenger reached Ps.977 million and Ps.339, respectively.
Maintaining Cost Discipline: Fuel Savings Combined With Other Efficiencies Offset Exchange Rate Pressures
In the second quarter, Volaris experienced pressures in US-dollar denominated costs such as aircraft rents, international airport costs, and maintenance expenses due to the depreciation of the Mexican peso.
Despite these challenges, the CASM for the second quarter was Ps.112.5 cents, a 3.3% decrease compared to the second quarter 2014, mainly driven by lower fuel prices and efficiencies achieved in landing, take-off and navigation expenses and in salaries and benefits. On a US dollar basis, CASM in the second quarter decreased 19.1% compared to the same period in 2014.
Young and Fuel Efficient Fleet
As of June 30, 2015, the Company´s fleet was comprised of 53 aircraft (33 A320s, 18 A319s and 2 A321s), with an average age of 4.3 years. Volaris expects to end 2015 with 55 aircraft.
Strong Cash Flow Generation, Solid Balance Sheet and Good Liquidity
The net increase of cash and cash equivalents was Ps.872 million during the second quarter, mainly driven by the resources provided by operating activities of Ps.947 million.
As of June 30, 2015, Volaris had a record balance of Ps.4,028 million in unrestricted cash and cash equivalents, representing 25.5% of the last twelve month operating revenues. Volaris recorded negative net debt (or a positive net cash position) of Ps.2,570 million and total equity of Ps.5,214 million.
During the second quarter, Volaris incurred capital expenditures of Ps.281 million, which included pre-delivery payments for acquisition of aircraft of Ps.316 million and rotable spare parts, furniture and equipment and intangibles assets of Ps.127 million. These acquisitions were partially offset by reimbursments of aircraft pre-delivery payments of Ps.131 million, and proceeds from disposals of rotable spare parts, furniture and equipment of Ps.31 million.
Active in Fuel Risk Management
Volaris has continued to remain active in its fuel risk management program. Volaris hedged 44% of its second quarter fuel consumption at an average strike price of US $2.15 per gallon, which combined with the 56% unhedged consumption, resulted in a blended average economic fuel cost of US$1.99 per gallon for the quarter.
Investors are urged to carefully read the Company's periodic reports filed with or furnished to the Securities and Exchange Commission, for additional information regarding the Company.
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Analyst Coverage |
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| Firm | Analyst | ||||||
| Barclays | Benjamin M. Theurer | ||||||
| Citi | Stephen Trent | ||||||
| Cowen Securities | Helane Becker | ||||||
| Deutsche Bank | Michael Linenberg | ||||||
| Evercore Partners | Duane Pfennigwerth | ||||||
| Imperial Capital | Bob McAdoo | ||||||
| Itaù Unibanco | Renato Salomone | ||||||
| Morgan Stanley | Ricardo Alves | ||||||
| Santander | Pedro Balcao | ||||||
| UBS | Rodrigo Fernandes | ||||||
Conference Call/Webcast Details:
Volaris will conduct a conference call to discuss these results on June 28, 2015, at 9:00 a.m. EDT (8:00 a.m. Mexico City). A live audio webcast of the conference call will be available to the public on a listen-only basis at http://ir.volaris.com
About Volaris:
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 (ULCC), with point-to-point operations, serving Mexico, the United States and Central America. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since beginning operations in March 2006, Volaris has increased its routes from five to more than 140 and its fleet from four to 53 aircraft. Volaris offers more than 240 daily flight segments on routes that connect 39 cities in Mexico, 21 cities in the United States and 2 in Central America with the youngest aircraft fleet in Mexico. Volaris targets passengers who are visiting friends and relatives, cost-conscious business people and leisure travelers in Mexico and to select destinations in the United States and Central America. Volaris has received the ESR Award for Social Corporate Responsibility for five consecutive years. For more information, please visit: www.volaris.com
Forward-looking Statements:
Statements in this release contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words "expects," "estimates," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "targets" and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Company's intentions and expectations regarding the delivery schedule of aircraft on order, announced new service routes and customer savings programs. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of 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 revenues; and government regulation. Additional information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings.
| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | ||||
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Financial and Operating Indicators |
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|
Unaudited |
Three months |
Three months |
Three months |
Variance |
|
Total operating revenues (millions) |
263 | 4,099 | 3,308 | 23.9% |
| Total operating expenses (millions) | 241 | 3,750 | 3,403 | 10.2% |
| EBIT (millions) | 22 | 349 | (95) | NA |
| EBIT margin | 8.5% | 8.5% | (2.9%) | 11.4pp |
| Adjusted EBITDA (millions) | 30 | 474 | (34) | NA |
| Adjusted EBITDA margin | 11.6% | 11.6% | (1.0%) | 12.6 pp |
| Adjusted EBITDAR (millions) | 82 | 1,281 | 595 | >100% |
| Adjusted EBITDAR margin | 31.2% | 31.2% | 18% | 13.2 pp |
| Net income (loss) (millions) | 23 | 351 | (75) | NA |
| Net margin | 8.6% | 8.6% | (2.3%) | 10.9 pp |
| Earnings (loss) per share: | ||||
| Basic | 0.02 | 0.35 | (0.07) | NA |
| Diluted | 0.02 | 0.35 | (0.07) | NA |
| Earnings (loss) per ADS: | ||||
| Basic | 0.22 | 3.47 | (0.74) | NA |
| Diluted | 0.22 | 3.47 | (0.74) | NA |
| Weighted average shares outstanding: | ||||
| Basic | - | 1,011,876,677 | 1,011,876,677 | 0.0% |
| Diluted | - | 1,011,876,677 | 1,011,876,677 | 0.0% |
| Available seat miles (ASMs) (millions)(1) | - | 3,332 | 2,923 | 14.0% |
| Domestic | - | 2,364 | 2,203 | 7.3% |
| International | - | 969 | 720 | 34.6% |
| Revenue passenger miles (RPMs) (millions)(1) | - | 2,764 | 2,386 | 15.8% |
| Domestic | - | 1,944 | 1,764 | 10.2% |
| International | - | 820 | 622 | 31.9% |
| Load factor(2) | - | 82.9% | 81.6% | 1.3 pp |
| Domestic | - | 82.2% | 80.1% | 2.1 pp |
| International | - | 84.5% | 86.4% | (1.9) pp |
| Total operating revenue per ASM (TRASM) (cents) (1) | 7.9 | 123.0 | 113.2 | 8.7% |
| Passenger revenue per ASM (RASM) (cents) (1) | 6.0 | 93.7 | 90.6 | 3.4% |
| Passenger revenue per RPM (Yield) (cents) (1) | 7.3 | 113.0 | 111.0 | 1.7% |
| Average fare(2) | 69.8 | 1,087 | 1,107 | (1.8%) |
| Non-ticket revenue per passenger(1) | 21.8 | 339 | 275 | 23.2% |
| Non-ticket revenue excluding cargo per passenger(1) | 20.7 | 323 | 252 | 28.3% |
| Operating expenses per ASM (CASM) (cents) (1) | 7.2 | 112.5 | 116.4 | (3.3%) |
| Operating expenses per ASM (CASM) ( US cents) (1) | - | 7.2* | 8.9** | (19.1%) |
| CASM ex-fuel (cents) (1) | 4.9 | 76.3 | 70.4 | 8.3% |
| CASM ex-fuel (US cents) (1) | - | 4.9* | 5.4** | (9.3%) |
| Booked passengers (thousands) (1) | - | 2,880 | 2,393 | 20.4% |
| Departures(1) | - | 21,187 | 18,498 | 14.5% |
| Block hours(1) | - | 55,067 | 48,801 | 12.8% |
| Fuel gallons consumed (millions) | - | 39.0 | 34.1 | 14.2% |
| Average economic fuel cost per gallon | 1.99 | 31.01 | 39.40 | (21.3%) |
| Aircraft at end of period | - | 53 | 48 | 10.4% |
| Average aircraft utilization (block hours) | - | 12.5 | 12.4 | 1.0% |
| Average exchange rate | - | 15.31 | 13.00 | 17.7% |
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*Convenience translation to period-end U.S. dollars (Ps.15.5676).
**Convenience translation to period-end U.S. dollars (Ps.13.0323)
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| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | ||||
|
Financial and Operating Indicators |
||||
|
Unaudited |
Six months |
Six months |
Six months |
Variance |
| Total operating revenues (millions) | 505 | 7,867 | 6,084 |
29.3% |
| Total operating expenses (millions) | 461 | 7,172 | 6,667 |
7.6% |
| EBIT (millions) | 45 | 695 |
(583) |
NA |
| EBIT margin | 8.8% | 8.8% |
(9.6%) |
18.4 pp |
| Adjusted EBITDA (millions) | 59 | 923 |
(465) |
NA |
| Adjusted EBITDA margin | 11.7% | 11.7% |
(7.6%) |
19.3 pp |
| Adjusted EBITDAR (millions) | 160 | 2,485 | 757 | >100% |
| Adjusted EBITDAR margin | 31.6% | 31.6% | 12.4% | 19.2 pp |
| Net income (loss) (millions) |
42 |
658 |
(445) |
NA |
| Net margin | 8.4% | 8.4% | (7.3%) | 15.7 pp |
| Earnings (loss) per share: | ||||
| Basic | 0.04 | 0.65 | (0.44) | NA |
| Diluted | 0.04 | 0.65 | (0.44) | NA |
| Earnings (loss) per ADS: | ||||
| Basic | 0.42 | 6.50 | (4.40) | NA |
| Diluted | 0.42 | 6.50 | (4.40) | NA |
| Weighted average shares outstanding: | ||||
| Basic | - | 1,011,876,677 | 1,011,876,677 | 0.00% |
| Diluted | - | 1,011,876,677 | 1,011,876,677 | 0.00% |
| Available seat miles (ASMs) (millions)(1) |
- |
6,375 | 5,665 | 12.5% |
| Domestic | - | 4,489 | 4,247 | 5.7% |
| International | - | 1,886 | 1,418 | 33.0% |
| Revenue passenger miles (RPMs) (millions)(1) |
- |
5,199 | 4,600 | 13.0% |
| Domestic | - | 3,663 | 3,403 | 7.6% |
| International | - | 1,536 | 1,197 | 28.4% |
| Load factor(2) |
- |
81.5% | 81.2% | 0.3 pp |
| Domestic | - | 81.6% | 80.1% | 1.5 pp |
| International | - | 81.3% | 84.4% | (3.1) pp |
| Total operating revenue per ASM (TRASM) (cents) (1) | 7.9 | 123.4 | 107.4 | 14.9% |
| Passenger revenue per ASM (RASM) (cents) (1) | 6.1 | 94.8 | 86.7 | 9.4% |
| Passenger revenue per RPM (Yield) (cents) (1) | 7.5 | 116.3 | 106.8 | 8.9% |
| Average fare(2) | 72 | 1,123 | 1,078 | 4.2% |
| Non-ticket revenue per passenger(1) | 21.7 | 338 | 258 | 31.3% |
| Non-ticket revenue excluding cargo per passenger(1) | 20.6 | 321 | 231 | 38.8% |
| Operating expenses per ASM (CASM) (cents) (1) | 7.2 | 112.5 | 117.7 | (4.4%) |
| Operating expenses per ASM (CASM) ( US cents) (1) | - | 7.2* | 9.0** | (20.0%) |
| CASM ex-fuel (cents) (1) | 4.9 | 77.1 | 71.2 | 8.2% |
| CASM ex-fuel (US cents) (1) | - | 4.9* | 5.5** | (9.4%) |
| Booked passengers (thousands) (1) | - | 5,391 | 4,554 | 18.4% |
| Departures(1) | - | 40,500 | 35,321 | 14.7% |
| Block hours(1) | - | 105,763 | 94,051 | 12.5% |
| Fuel gallons consumed (millions) | - | 74.3 | 65.7 | 13.1% |
| Average economic fuel cost per gallon |
1.95 |
30.40 | 40.06 | (24.1%) |
|
Aircraft at end of period |
- | 53 | 48 | 10.4% |
| Average aircraft utilization (block hours) | - | 12.3 | 12.4 | (0.9%) |
| Average exchange rate | - | 15.12 | 13.12 | 15.3% |
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*Convenience translation to period-end U.S. dollars (Ps.15.5676).
**Convenience translation to period-end U.S. dollars (Ps.13.0323) |
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| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | |||||||
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Consolidated Statement of Operations |
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Unaudited |
Three months |
Three months |
Three months |
Variance (%) |
|||
| Operating revenues: | |||||||
| Passenger | 201 | 3,122 | 2,649 | 17.8% | |||
| Non-ticket | 63 | 977 | 659 | 48.3% | |||
| 263 | 4,099 | 3,308 | 23.9% | ||||
| Other operating income | (2) | (37) | (1) | >100% | |||
| Fuel | 78 | 1,209 | 1,345 | (10.1%) | |||
| Aircraft and engine rent expense | 52 | 807 | 629 | 28.2% | |||
| Landing, take-off and navigation expenses | 39 | 607 | 526 | 15.4% | |||
| Salaries and benefits | 29 | 448 | 390 | 14.9% | |||
| Sales, marketing and distribution expenses | 15 | 232 | 195 | 19.1% | |||
| Maintenance expenses | 13 | 198 | 148 | 34.1% | |||
| Other operating expenses | 10 | 162 | 110 | 46.8% | |||
| Depreciation and amortization | 8 | 125 | 61 | >100% | |||
| Operating expenses | 241 | 3,750 | 3,403 | 10.2% | |||
| Operating income (loss) | 22 | 349 | (95) | NA | |||
| Finance income | 1 | 12 | 5 | >100% | |||
| Finance cost | - | (6) | (9) | (34.3%) | |||
| Exchange gain (loss), net | 9 | 146 | (15) | NA | |||
| Comprehensive financing result | 10 | 153 | (18) | NA | |||
| Income (loss) before income tax | 32 | 502 | (113) | NA | |||
| Income tax (expense) benefit | (10) | (151) | 38 | NA | |||
| Net income (loss) | 23 | 351 | (75) | NA | |||
| Attribution of net income (loss): | |||||||
| Equity holders of the parent | 23 | 351 | (75) | NA | |||
| Non-controlling interest | - | - | - | - | |||
| Net income (loss) | 23 | 351 | (75) | NA | |||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.15.5676 for convenience purposes only. | |||||||
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| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | |||||||
|
Consolidated Statement of Operations |
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|
Unaudited |
Six months ended |
Six months |
Six months |
Variance |
|||
| Operating revenues: | |||||||
| Passenger | 388 | 6,044 | 4,910 | 23.1% | |||
| Non-ticket | 117 | 1,823 | 1,173 | 55.4% | |||
| 505 | 7,867 | 6,084 | 29.3% | ||||
| Other operating income | (4) | (61) | (4) | >100% | |||
| Fuel | 145 | 2,260 | 2,632 | (14.1%) | |||
| Aircraft and engine rent expense | 100 | 1,562 | 1,222 | 27.8% | |||
| Landing, take-off and navigation expenses | 76 | 1,180 | 1,046 | 12.9% | |||
| Salaries and benefits | 56 | 872 | 779 | 12.0% | |||
| Sales, marketing and distribution expenses | 29 | 448 | 352 | 27.0% | |||
| Maintenance expenses | 24 | 379 | 306 | 23.9% | |||
| Other operating expenses | 20 | 304 | 215 | 41.2% | |||
| Depreciation and amortization | 15 | 228 | 118 | 92.7% | |||
| Operating expenses | 461 | 7,172 | 6,667 | 7.6% | |||
| Operating income (loss) | 45 | 695 | (583) | NA | |||
| Finance income | 1 | 22 | 10 | >100% | |||
| Finance cost | (1) | (10) | (14) | (28.9%) | |||
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Exchange gain (loss), net |
15 | 233 | (4) | NA | |||
| Comprehensive financing result | 16 | 244 | (7) | NA | |||
| Income (loss) before income tax | 60 | 939 | (590) | NA | |||
|
Income tax (expense) benefit |
(18) | (282) | 145 | NA | |||
| Net income (loss) | 42 | 658 | (445) | NA | |||
| Attribution of net income (loss) | |||||||
| Equity holders of the parent | 42 | 658 | (445) | NA | |||
| Non-controlling interest | - | - | - | - | |||
| Net income (loss) | 42 | 658 | (445) | NA | |||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.15.5676 for convenience purposes only. | |||||||
| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | |||||
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Consolidated Statement of Financial Position |
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(In millions of Mexican pesos) |
June 30, 2015 |
June 30, 2015 |
December 31, |
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| Assets | |||||
| Cash and cash equivalents | 259 | 4,028 | 2,265 | ||
| Accounts receivable | 18 | 287 | 449 | ||
| Inventories | 10 | 158 | 140 | ||
| Prepaid expenses and other current assets | 21 | 324 | 228 | ||
| Financial instruments | 10 | 148 | 63 | ||
| Guarantee deposits | 34 | 535 | 545 | ||
| Total current assets | 352 | 5,479 | 3,689 | ||
| Rotable spare parts, furniture and equipment, net | 155 | 2,411 | 2,223 | ||
| Intangible assets, net | 4 | 68 | 73 | ||
| Financial instruments | 7 | 110 | 5 | ||
| Deferred income tax | 40 | 627 | 328 | ||
| Guarantee deposits | 258 | 4,022 | 3,541 | ||
| Other assets | 2 | 29 | 46 | ||
| Total non-current assets | 467 | 7,267 | 6,216 | ||
| Total assets | 819 | 12,746 | 9,905 | ||
| Liabilities | |||||
| Unearned transportation revenue | 151 | 2,343 | 1,421 | ||
| Accounts payable | 35 | 544 | 506 | ||
| Accrued liabilities | 82 | 1,276 | 1,122 | ||
| Taxes and fees payable | 102 | 1,594 | 677 | ||
| Financial instruments | 3 | 47 | 211 | ||
| Financial debt | 82 | 1,284 | 823 | ||
| Other liabilities | - | 5 | 9 | ||
| Total short-term liabilities | 456 | 7,092 | 4,768 | ||
| Financial instruments | 2 | 29 | 42 | ||
| Financial debt | 11 | 174 | 425 | ||
| Accrued liabilities | 8 | 127 | 144 | ||
| Other liabilities | 2 | 25 | 21 | ||
| Employee benefits | 1 | 9 | 8 | ||
| Deferred income taxes | 5 | 75 | 27 | ||
| Total long-term liabilities | 28 | 440 | 667 | ||
| Total liabilities | 484 | 7,532 | 5,435 | ||
| Equity | |||||
| Capital stock | 191 | 2,974 | 2,974 | ||
| Treasury shares | (7) | (115) | (115) | ||
| Contributions for future capital increases | - | - | - | ||
| Legal reserve | 2 | 38 | 38 | ||
| Additional paid-in capital | 115 | 1,789 | 1,787 | ||
| Accumulated incomes (losses) | 39 | 602 | (56) | ||
| Accumulated other comprehensive losses | (5) | (74) | (158) | ||
| Total equity | 335 | 5,214 | 4,470 | ||
| Total liabilities and equity | 819 | 12,746 | 9,905 | ||
| Total shares outstanding fully diluted | 1,011,876,677 | 1,011,876,677 | |||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.15.5676 for convenience purposes only. | |||||
| Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries | |||||
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Consolidated Statement of Cash Flows – Cash Flow Data Summary |
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Unaudited |
Three months |
Three months |
Three months |
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| Net cash flow provided by (used in) operating activities | 61 | 947 | (8) | ||
| Net cash flow used in investing activities | (18) | (281) | (215) | ||
| Net cash flow provided by financing activities | 10 | 151 | 85 | ||
| Increase (decrease) in cash and cash equivalents | 53 | 817 | (139) | ||
| Net foreign exchange differences | 4 | 55 | (13) | ||
| Cash and cash equivalents at beginning of period | 203 | 3,156 | 2,240 | ||
| Cash and cash equivalents at end of period | 259 | 4,028 | 2,088 | ||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.15.5676 for convenience purposes only. | |||||
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||||
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Unaudited |
Six months |
Six months |
Six months |
||
| Net cash flow provided by (used in) operating activities | 122 | 1,896 | (94) | ||
| Net cash flow used in investing activities | (21) | (331) | (443) | ||
| Net cash flow provided by financing activities | 7 | 115 | 184 | ||
| Increase (decrease) in cash and cash equivalents | 108 | 1,679 | (353) | ||
| Net foreign exchange differences | 5 | 83 | (9) | ||
| Cash and cash equivalents at beginning of period | 145 | 2,265 | 2,451 | ||
| Cash and cash equivalents at end of period | 259 | 4,028 | 2,088 | ||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.15.5676 for convenience purposes only. | |||||