Volaris reports first quarter 2014 results

Volaris, the ultra-low-cost airline serving Mexico and the US, reported its financial results for the first quarter 2014. Total operating revenues were Ps.2,775mn for the first quarter, a decrease of 9%, reflecting a challenging macroeconomic and pricing environment, as well as a seasonal impact. Holy week, one of the most active travel weeks in Mexico, happened in April of 2014, as opposed to March of 2013. Total operating revenue per available seat mile (TRASM) decreased to Ps.101.2 cents (US$7.7 cents), an 18% decrease year over year. Adjusted EBITDAR was Ps.162m with a net loss of Ps.370m (Ps.0.37 cents per share / US$0.28 cents per ADS).