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 third quarter 2015.
*Controladora Vuela Compañía de Aviación, S.A.B. de C.V.
The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS).
Third Quarter 2015 Highlights
- Total operating revenues were Ps.5,220 million for the third quarter, an increase of 30.7% year over year.
- Non-ticket revenues were Ps.1,063 million for the third quarter, an increase of 43.3% year over year. Non-ticket revenue per passenger for the third quarter was Ps.319, increasing 13.2% year over year.
- Total operating revenue per available seat mile (TRASM) rose to Ps.134.4 cents for the third quarter, an increase of 5.4% year over year.
- Operating expenses per available seat mile (CASM) were Ps.106.6 cents for the third quarter, a decrease of 8.1% year over year.
- Adjusted EBITDAR was Ps.2,121 million for the third quarter, an increase of 95.5% year over year with an Adjusted EBITDAR margin of 40.6%, a margin expansion of 13.4 percentage points.
- Operating income was Ps.1,080 million for the third quarter, with an operating margin of 20.7%, a year over year operating margin improvement of 11.7 percentage points.
- Net income was Ps.1,152 million (Ps.1.14 per share / US$0.67 per ADS) with a net margin of 22.1% for the third quarter, a year over year net margin improvement of 13.4 percentage points.
- Net increase of cash and cash equivalents was Ps.380 million for the third quarter, mainly driven by cash flow from operating activities of Ps.243 million. Unrestricted cash and cash equivalents was Ps.4,408 million, representing 26% of the last twelve month total operating revenues.
Volaris´ CEO Enrique Beltranena commented: “During the third quarter Volaris responded to an increase in demand by accelerating its capacity growth, driven by higher fleet utilization thanks to its network flexibility and agility. Volaris’ ULCC model continues to penetrate the domestic and international markets, resulting in a strong quarter from commercial, operational and financial standpoints.”
Macroeconomic Environment Improves, but FX Volatile. Strong Traffic Volume Growth
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The Mexican macroeconomic environment:
- GDP growth for the second quarter 2015 of 2.2% year over year.
- Consumer confidence increased 4.1%, 1.8% and 0.8% year over year in June, July and August of 2015, respectively.
- The Mexican General Economic Activity Indicator (IGAE) increased 2.0% year over year in July of 2015.
- Exchange rate volatility: The Mexican peso depreciated 25.1% year over year against the US dollar, as the exchange rate devalued from an average of Ps.13.11 pesos per US dollar in the third quarter 2014 to Ps.16.41 pesos per US dollar during the third quarter 2015.
- Lower fuel prices: The average economic fuel cost per gallon decreased 27.2% year over year in the third quarter 2015 to Ps.28.61 per gallon (US$1.68).
- Air traffic volume increase: The Mexican DGAC reported an overall passenger volume growth for Mexican carriers of 17.1% during July and August 2015 year over year. Domestic passenger volume increased 13.8%, while international increased 30.9%.
Unit Revenue Improvements driven by Non-Ticket Revenue Growth and Improved Revenue Management
- Unit revenue improvement and demand driven capacity growth: TRASM and yield increased 5.4% and 3.4% for the third quarter year over year, respectively, as a result of a stable domestic and international fare environment. In terms of ASMs, domestic capacity grew 16.8%, reflecting increasing market demand and associated yield recovery, while international capacity increased 44.2%.
- Non-ticket revenue growth: Non-ticket revenues per passenger increased 13.2% year over year for the third quarter, as the company implemented changes in ancillary products pricing, a new travel insurance product, as well as new payment options.
- New routes: In the third quarter, Volaris launched five new routes (one domestic and four international).
Operating Revenue Growth from Solid Traffic and Capacity Management
Volaris booked 3.3 million passengers in the third quarter, a 26.6% year over year growth. Volaris traffic (measured in terms of revenue passenger miles, or RPMs) increased 23.6% for the same period. Volaris’ passenger market share, the second largest among Mexican carriers and first in the low cost segment, was 25.9% in the bimester of July and August in both domestic and international markets.
Volaris’ total operating revenues were Ps.5,220 million in the third quarter, an increase of 30.7% year over year. Non-ticket revenue and non-ticket revenue per passenger reached Ps.1,063 million and Ps.319 in the third quarter, respectively, an increase of 43.3% and 13.2% year over year, respectively.
Fuel Savings Offset Exchange Rate Pressures
In the third quarter, Volaris continued to experience 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 third quarter was Ps.106.6 cents, an 8.1% decrease compared to the third quarter 2014, mainly driven by lower fuel prices.
Young and Fuel Efficient Fleet
As of September 30, 2015, Volaris fleet was comprised of 55 aircraft (35 A320s, 18 A319s and 2 A321s), with an average age of 4.4 years. Volaris expects to end the year with 56 aircraft.
Strong Cash Flow Generation, Solid Balance Sheet and Good Liquidity
The net increase of cash and cash equivalents was Ps.380 million during the third quarter, mainly driven by the resources provided by operating activities of Ps.243 million.
As of September 30, 2015, Volaris had a balance of Ps.4,408 million in unrestricted cash and cash equivalents, representing 26% of the last twelve month operating revenues. Volaris recorded negative net debt (or a positive net cash position) of Ps.2,954 million and total equity of Ps.6,196 million.
During the third quarter, Volaris incurred capital expenditures of Ps.262 million, which included pre-delivery payments for acquisition of aircraft and rotable spare parts, furniture and equipment for Ps.244 million and intangibles assets for Ps.18 million. These acquisitions were offset by reimbursements of aircraft pre-delivery payments of Ps.270 million, and proceeds from disposals of rotable spare parts, furniture and equipment of Ps.78 million.
Active in Fuel Risk Management
Volaris has continued to remain active in its fuel risk management program. Volaris hedged 45% of its third quarter fuel consumption at an average strike price of US $2.07 per gallon, which combined with the 55% unhedged consumption, resulted in a blended average economic fuel cost of US$1.68 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.
Conference Call/Webcast Details:
Volaris will conduct a conference call to discuss these results on October 20, 2015, at 10:00 a.m. EDT (9:00 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 139 and its fleet from four to 55 aircraft. Volaris offers more than 230 daily flight segments on routes that connect 38 destinations in Mexico, 21 destinations 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 six 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.
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Financial and Operating Indicators |
|||||||||
| Unaudited |
Three months |
Three months |
Three months |
Variance | |||||
| (In Mexican pesos, except otherwise indicated) | (US Dollars)* | (%) | |||||||
| Total operating revenues (millions) | 307 | 5,220 | 3,995 | 30.7% | |||||
|
Total operating expenses (millions) |
243 | 4,140 | 3,634 | 13.9% | |||||
|
EBIT (millions) |
63 | 1,080 | 361 | >100% | |||||
| EBIT margin | 20.7% | 20.7% | 9.0% | 11.7 pp | |||||
| Adjusted EBITDA (millions) | 71 | 1,200 | 447 | >100% | |||||
| Adjusted EBITDA margin | 23.0% | 23.0% | 11.2% | 11.8 pp | |||||
| Adjusted EBITDAR (millions) | 125 | 2,121 | 1,085 | 95.5% | |||||
| Adjusted EBITDAR margin | 40.6% | 40.6% | 27.2% | 13.4 pp | |||||
| Net income (millions) | 68 | 1,152 | 347 | >100% | |||||
| Net income margin | 22.1% | 22.1% | 8.7% | 13.4 pp | |||||
| Earnings per share: | |||||||||
| Basic (pesos) | 0.07 | 1.14 | 0.34 | >100% | |||||
| Diluted (pesos) | 0.07 | 1.14 | 0.34 | >100% | |||||
| Earnings per ADS: | |||||||||
| Basic (pesos) | 0.67 | 11.38 | 3.43 | >100% | |||||
| Diluted (pesos) | 0.67 | 11.38 | 3.43 | >100% | |||||
| 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) |
- | 3,883 | 3,132 | 24.0% | |||||
|
Domestic |
- | 2,699 | 2,310 | 16.8% | |||||
| International | - | 1,184 | 821 | 44.2% | |||||
|
Revenue passenger miles (RPMs) (millions)(1) |
- | 3,226 | 2,611 | 23.6% | |||||
| Domestic | - | 2,242 | 1,901 | 18.0% | |||||
| International | - | 984 | 710 | 38.6% | |||||
|
Load factor(2) |
- | 83.1% | 83.4% | (0.3) pp | |||||
| Domestic | - | 83.1% | 82.3% | 0.8 pp | |||||
| International | - | 83.0% | 86.5% | (3.5) pp | |||||
|
Total operating revenue per ASM (TRASM) (cents)(1) |
7.9 | 134.4 | 127.6 | 5.4% | |||||
|
Passenger revenue per ASM (RASM) (cents)(1) |
6.3 | 107.0 | 103.9 | 3.1% | |||||
|
Passenger revenue per RPM (Yield) (cents)(1) |
7.6 | 128.8 | 124.6 | 3.4% | |||||
|
Average fare(2) |
73.3 | 1,247 | 1,233 | 1.1% | |||||
|
Non-ticket revenue per passenger (1) |
18.7 | 319 | 281 | 13.2% | |||||
|
Non-ticket revenue excluding cargo per passenger(1) |
17.9 | 305 | 261 | 16.7% | |||||
|
Operating expenses per ASM (CASM) (cents)(1) |
6.3 | 106.6 | 116.0 | (8.1%) | |||||
|
Operating expenses per ASM (CASM) (US cents)(1) |
- | 6.3* | 8.6** | (27.3%) | |||||
|
CASM ex fuel (cents)(1) |
4.3 | 73.1 | 69.6 | 5.1% | |||||
|
CASM ex fuel (US cents)(1) |
- | 4.3* | 5.2** | (16.9%) | |||||
|
Booked passengers (thousands)(1) |
- | 3,338 | 2,638 | 26.6% | |||||
|
Departures(1) |
- | 24,087 | 19,862 | 21.3% | |||||
|
Block hours(1) |
- | 62,878 | 51,894 | 21.2% | |||||
| Fuel gallons consumed (millions) | - | 45.5 | 37.0 | 23.0% | |||||
| Average economic fuel cost per gallon | 1.7 | 28.6 | 39.3 | (27.2%) | |||||
| Aircraft at end of period | - | 55 | 48 | 14.6% | |||||
| Average aircraft utilization (block hours) | - | 13.1 | 12.5 | 5.3% | |||||
| Average exchange rate | - | 16.40 | 13.11 | 25.1% | |||||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.17.0073 for convenience purposes only | |||||||||
| **Peso amounts were converted to U.S. dollars at the rate of Ps.13.4541 for convenience purposes only | |||||||||
| (1) Includes schedule + charter (2) Includes schedule | |||||||||
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Financial and Operating Indicators |
|||||||||
| Unaudited |
Nine months |
Nine months |
Nine months |
Variance | |||||
| (In Mexican pesos, except otherwise indicated) | (US Dollars)* | (%) | |||||||
| Total operating revenues (millions) | 770 | 13,087 | 10,078 | 29.9% | |||||
|
Total operating expenses (millions) |
665 | 11,312 | 10,301 | 9.8% | |||||
| EBIT (millions) | 104 | 1,775 | (222) | NA | |||||
| EBIT margin | 13.6% | 13.6% | (2.2%) | 15.8 pp | |||||
| Adjusted EBITDA (millions) | 125 | 2,124 | (17) | NA | |||||
| Adjusted EBITDA margin | 16.2% | 16.2% | (0.2%) | 16.4 pp | |||||
| Adjusted EBITDAR (millions) | 271 | 4,606 | 1,842 | >100% | |||||
| Adjusted EBITDAR margin | 35.2% | 35.2% | 18.3% | 16.9 pp | |||||
| Net income (loss) (millions) | 106 | 1,810 | (98) | NA | |||||
| Net income (loss) margin | 13.8% | 13.8% | (1.0%) | 14.8 pp | |||||
| Earnings per share: | |||||||||
| Basic (pesos) | 0.11 | 1.79 | (0.10) | NA | |||||
| Diluted (pesos) | 0.11 | 1.79 | (0.10) | NA | |||||
| Earnings per ADS: | |||||||||
| Basic (pesos) | 1.05 | 17.89 | (0.97) | NA | |||||
| Diluted (pesos) | 1.05 | 17.89 | (0.97) | 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) |
- | 10,258 | 8,797 | 16.6% | |||||
| Domestic | - | 7,188 | 6,558 | 9.6% | |||||
| International | - | 3,070 | 2,239 | 37.1% | |||||
|
Revenue passenger miles (RPMs) (millions)(1) |
- | 8,425 | 7,211 | 16.8% | |||||
| Domestic | - | 5,905 | 5,304 | 11.3% | |||||
| International | - | 2,520 | 1,907 | 32.2% | |||||
|
Load factor(2) |
- | 82.1% | 82.0% | 0.1 pp | |||||
|
Domestic |
- | 82.1% | 80.9% | 1.3 pp | |||||
| International | - | 82.0% | 85.2% | (3.2) pp | |||||
|
Total operating revenue per ASM (TRASM) (cents)(1) |
7.5 | 127.6 | 114.6 | 11.4% | |||||
|
Passenger revenue per ASM (RASM) (cents)(1) |
5.8 | 99.4 | 92.8 | 7.2% | |||||
|
Passenger revenue per RPM (Yield) (cents)(1) |
7.1 | 121.1 | 113.2 | 6.9% | |||||
|
Average fare(2) |
69 | 1,171 | 1,135 | 3.1% | |||||
|
Non-ticket revenue per passenger (1) |
19.4 | 331 | 266 | 24.2% | |||||
|
Non-ticket revenue excluding cargo per passenger(1) |
18.5 | 315 | 242 | 29.9% | |||||
|
Operating expenses per ASM (CASM) (cents)(1) |
6.5 | 110.3 | 117.1 | (5.8%) | |||||
|
Operating expenses per ASM (CASM) (US cents)(1) |
- | 6.5* | 8.7 ** | (25.5%) | |||||
|
CASM ex fuel (cents)(1) |
4.4 | 75.5 | 70.6 | 7.0% | |||||
|
CASM ex fuel (US cents)(1) |
- | 4.4* | 5.2** | (15.4%) | |||||
|
Booked passengers (thousands)(1) |
- | 8,730 | 7,192 | 21.4% | |||||
|
Departures(1) |
- | 64,587 | 55,183 | 17.0% | |||||
|
Block hours(1) |
- | 168,641 | 145,945 | 15.6% | |||||
| Fuel gallons consumed (millions) | - | 119.9 | 102.7 | 16.7% | |||||
| Average economic fuel cost per gallon | 1.7 | 29.7 | 39.8 | (25.3%) | |||||
| Aircraft at end of period | - | 55 | 48 | 14.6% | |||||
| Average aircraft utilization (block hours) | - | 12.6 | 12.4 | 1.3% | |||||
| Average exchange rate | - | 15.55 | 13.12 | 18.6% | |||||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.17.0073 for convenience purposes only. | |||||||||
| **Peso amounts were converted to U.S. dollars at the rate of Ps.13.4541 for convenience purposes only. | |||||||||
| (1) Includes schedule + charter (2) Includes schedule | |||||||||
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Consolidated Statement of Operations |
|||||||||
| Unaudited |
Three months |
Three months |
Three months |
Variance | |||||
| (In millions of Mexican pesos) | (US Dollars)* | (%) | |||||||
| Operating revenues: | |||||||||
| Passenger | 244 | 4,156 | 3,253 | 27.8% | |||||
| Non-ticket | 63 | 1,063 | 742 | 43.3% | |||||
| 307 | 5,220 | 3,995 | 30.7% | ||||||
| Other operating income | (5) | (82) | (5) | >100% | |||||
| Fuel | 77 | 1,303 | 1,455 | (10.5%) | |||||
| Aircraft and engine rent expense | 54 | 921 | 637 | 44.5% | |||||
| Landing, take-off and navigation expenses | 41 | 703 | 532 | 32.3% | |||||
| Salaries and benefits | 29 | 492 | 395 | 24.5% | |||||
| Sales, marketing and distribution expenses | 18 | 303 | 238 | 27.2% | |||||
| Maintenance expenses | 12 | 208 | 167 | 24.5% | |||||
| Other operating expenses | 10 | 172 | 127 | 35.3% | |||||
| Depreciation and amortization | 7 | 121 | 87 | 39.4% | |||||
| Operating expenses | 243 | 4,140 | 3,634 | 13.9% | |||||
| Operating income | 63 | 1,080 | 361 | >100% | |||||
| Finance income | 1 | 15 | 7 | >100% | |||||
| Finance cost | - | (5) | (9) | (47.4%) | |||||
| Exchange gain, net | 33 | 556 | 116 | >100% | |||||
| Comprehensive financing result | 34 | 566 | 113 | >100% | |||||
| Income before income tax | 97 | 1,646 | 474 | >100% | |||||
| Income tax expense | (29) | (494) | (127) | >100% | |||||
| Net income | 68 | 1,152 | 347 | >100% | |||||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.17.0073 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 |
|||||||||
| Unaudited |
Nine months |
Nine months |
Nine months |
Variance | |||||
| (In millions of Mexican pesos) | (US Dollars)* | (%) | |||||||
| Operating revenues: | |||||||||
| Passenger | 600 | 10,201 | 8,163 | 25.0% | |||||
| Non-ticket | 170 | 2,887 | 1,915 | 50.7% | |||||
| 770 | 13,087 | 10,078 | 29.9% | ||||||
| Other operating income | (8) | (143) | (9) | >100% | |||||
| Fuel | 209 | 3,563 | 4,088 | (12.8%) | |||||
| Aircraft and engine rent expense | 146 | 2,483 | 1,860 | 33.5% | |||||
| Landing, take-off and navigation expenses | 111 | 1,884 | 1,577 | 19.4% | |||||
| Salaries and benefits | 80 | 1,364 | 1,174 | 16.2% | |||||
| Sales, marketing and distribution expenses | 44 | 750 | 590 | 27.1% | |||||
| Maintenance expenses | 35 | 587 | 473 | 24.1% | |||||
| Other operating expenses | 28 | 476 | 342 | 39.0% | |||||
| Depreciation and amortization | 21 | 349 | 205 | 70.2% | |||||
| Operating expenses | 665 | 11,312 | 10,301 | 9.8% | |||||
| Operating income (loss) | 104 | 1,775 | (222) | NA | |||||
| Finance income | 2 | 37 | 17 | >100% | |||||
| Finance cost | (1) | (15) | (23) | (36.3%) | |||||
| Exchange gain, net | 46 | 789 | 112 | >100% | |||||
| Comprehensive financing result | 48 | 811 | 106 | >100% | |||||
| Income (loss) before income tax | 152 | 2,586 | (116) | NA | |||||
| Income tax (expense) benefit | (46) | (776) | 18 | NA | |||||
| Net income (loss) | 106 | 1,810 | (98) | NA | |||||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.17.0073 for convenience purposes only. | |||||||||
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Consolidated Statement of Financial Position |
|||||||
| (In millions of Mexican pesos) |
September 30, 2015 |
September 30, 2015 |
December 31, 2014 |
||||
| (US Dollars)* | |||||||
| Assets | |||||||
| Cash and cash equivalents | 259 | 4,408 | 2,265 | ||||
| Accounts receivable | 17 | 295 | 449 | ||||
| Inventories | 9 | 156 | 140 | ||||
| Prepaid expenses and other current assets | 20 | 342 | 228 | ||||
| Financial instruments | 2 | 40 | 63 | ||||
| Guarantee deposits | 40 | 680 | 545 | ||||
| Total current assets | 348 | 5,921 | 3,689 | ||||
| Rotable spare parts, furniture and equipment, net | 134 | 2,273 | 2,223 | ||||
| Intangible assets, net | 5 | 77 | 73 | ||||
| Financial instruments | 4 | 65 | 5 | ||||
| Deferred income tax | 39 | 661 | 328 | ||||
| Guarantee deposits | 275 | 4,680 | 3,541 | ||||
| Other assets | 4 | 66 | 46 | ||||
| Total non-current assets | 460 | 7,822 | 6,216 | ||||
| Total assets | 808 | 13,743 | 9,905 | ||||
| Liabilities | |||||||
| Unearned transportation revenue | 112 | 1,898 | 1,421 | ||||
| Accounts payable | 42 | 710 | 506 | ||||
| Accrued liabilities | 73 | 1,237 | 1,122 | ||||
| Taxes and fees payable | 103 | 1,745 | 677 | ||||
| Financial instruments | 3 | 48 | 211 | ||||
| Financial debt | 67 | 1,145 | 823 | ||||
| Other liabilities | - | 5 | 9 | ||||
| Total short-term liabilities | 399 | 6,789 | 4,768 | ||||
| Financial instruments | 1 | 23 | 42 | ||||
| Financial debt | 18 | 309 | 425 | ||||
| Accrued liabilities | 11 | 192 | 144 | ||||
| Other liabilities | 2 | 42 | 21 | ||||
| Employee benefits | 1 | 10 | 8 | ||||
| Deferred income tax | 11 | 181 | 27 | ||||
| Total long-term liabilities | 45 | 757 | 667 | ||||
| Total liabilities | 444 | 7,546 | 5,435 | ||||
| Equity | |||||||
| Capital stock | 175 | 2,974 | 2,974 | ||||
| Treasury shares | (7) | (115) | (115) | ||||
| Contributions for future capital increases | - | - | - | ||||
| Legal reserve | 2 | 38 | 38 | ||||
| Additional paid-in capital | 105 | 1,790 | 1,787 | ||||
| Accumulated incomes (losses) | 103 | 1,754 | (56) | ||||
| Accumulated other comprehensive losses | (14) | (245) | (158) | ||||
| Total equity | 364 | 6,196 | 4,470 | ||||
| Total liabilities and equity | 808 | 13,743 | 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.17.0073 for convenience purposes only | |||||||
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and Subsidiaries Consolidated Statement of Cash Flows – Cash Flow Data Summary |
|||||||
| Unaudited |
Three months |
Three months |
Three months |
||||
| (In millions of Mexican pesos) | (US Dollars)* | ||||||
| Net cash flow provided by (used in) operating activities | 14 | 243 | (42) | ||||
| Net cash flow provided by (used in) investing activities | 5 | 86 | (370) | ||||
| Net cash flow (used in) provided by financing activities | (10) | (176) | 96 | ||||
| Increase (decrease) in cash and cash equivalents | 9 | 154 | (316) | ||||
| Net foreign exchange differences | 13 | 226 | 42 | ||||
| Cash and cash equivalents at beginning of period | 237 | 4,028 | 2,088 | ||||
| Cash and cash equivalents at end of period | 259 | 4,408 | 1,814 | ||||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.17.0073 for convenience purposes only | |||||||
| Unaudited |
Nine months |
Nine months |
Nine months |
||||
| (In millions of Mexican pesos) | (US Dollars)* | ||||||
| Net cash flow provided by (used in) operating activities | 126 | 2,140 | (136) | ||||
| Net cash flow used in investing activities | (14) | (245) | (813) | ||||
| Net cash flow (used in) provided by financing activities | (4) | (61) | 280 | ||||
| Increase (decrease) in cash and cash equivalents | 108 | 1,833 | (669) | ||||
| Net foreign exchange differences | 18 | 309 | 32 | ||||
| Cash and cash equivalents at beginning of period | 133 | 2,265 | 2,451 | ||||
| Cash and cash equivalents at end of period | 259 | 4,408 | 1,814 | ||||
| *Peso amounts were converted to U.S. dollars at the rate of Ps.17.0073 for convenience purposes only | |||||||