Controladora Vuela Compañía de Aviación, S.A.B. de C.V.
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Range $7.5 – $11
Price Chart
About the company
Controladora Vuela Compañía de Aviación, S. A. B.
- CEO
- Enrique Javier Beltranena Mejicano
- IPO
- 2013
- Employees
- 7,098
- HQ
- Mexico City, DF, MX
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $798.91M
- P/E
- -4.36
- Fwd P/E
- 6.08
- PEG
- 0.05
- P/S
- 0.25
- P/B
- 11.92
- EV/EBITDA
- 5.25
- Div Yield
- 0.00%
- Gross Margin
- 3.82%
- Op Margin
- 0.36%
- Net Margin
- -5.70%
- ROE
- -93.84%
- ROIC
- 0.23%
Latest fiscal year · YoY change
- Revenue
- $3.04B-3.3%
- Gross Profit
- $173.84M-66.3%
- Op Income
- $98.88M
- Net Income
- $-103,872,000-182.2%
- EPS
- $-0.90-182.2%
- OCF Growth
- -31.2%
- FCF Growth
- +48.0%
- 52W High
- $10.80
- 52W Low
- $5.70
- 50D MA
- $8.24
- 200D MA
- $8.04
- Beta
- 1.06
- RSI (14)
- 32
- Avg Volume
- 599.35K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Volaris posted strong revenue and margin outperformance in Q2 despite a severe fuel backdrop, while reaffirming a disciplined capacity strategy and restoring full-year EBITDAR margin guidance.· July 22, 2026
- Q2 operating revenue was $859 million, up 24% year over year, with EBITDAR of $141 million and a 16.3% margin versus 13% guidance.
- TRASM reached $0.095, up 22% year over year, while CASM ex-fuel of $0.0675 came in slightly better than expected.
- Cash ended the quarter at $824 million, up $58 million sequentially, even as net debt-to-EBITDAR was 3.3x.
- Management kept capacity disciplined: Q2 ASMs grew 2%, and full-year ASM growth is expected to be about 5%.
- The company reinstated full-year EBITDAR margin guidance at approximately 23% and guided Q3 EBITDAR margin at around 22%.
Second-quarter operating revenue was $859 million, up 24% year over year on 2% capacity growth. EBITDAR was $141 million, with a 16.3% margin, above the company’s roughly 13% guidance; TRASM was $0.095, up 22% year over year; CASM ex-fuel was $0.0675; and CASM was $0.1058, up 31% year over year. Net loss was $127 million, EBIT was negative $99 million, and cash flow from operating activities was $272 million. The company ended Q2 with $824 million in cash, up $58 million sequentially, and net debt-to-EBITDAR was 3.3x. For Q3, Volaris guided to ASM growth of about 10%, TRASM of around $0.0990, CASM ex-fuel of approximately $0.0635, and an EBITDAR margin of around 22%. For full year 2026, management expects ASM growth of about 5%, an EBITDAR margin of around 23%, and CapEx of around $350 million.
Enrique Beltranena said Volaris moved quickly to protect liquidity and keep every route cash positive despite what he called the most challenging fuel environment in the company’s history. He emphasized disciplined capacity allocation, fare calibration, and international network expansion as the key levers behind the quarter’s resilience. His tone was confident and defensive at the same time: focused on preserving cash and margins now, while framing fleet recovery and network diversification as long-term value drivers.
Jaime Pous highlighted that the quarter’s financial performance was helped by strong revenue growth and by fuel being about 8% below the assumption in guidance. He cited operating revenue of $859 million, EBITDAR of $141 million, a 16.3% margin, net loss of $127 million, and cash flow from operations of $272 million. On the balance sheet, he noted $824 million of liquidity, net debt-to-EBITDAR of 3.3x, an engine financing facility that generated $78 million in net proceeds, and a lowered lease-liability path from about $3.2 billion today to about $2.8 billion by year-end 2027. He also said CapEx will be around $350 million in 2026, with more than 90% tied to maintenance, inductions, and redeliveries.
Analysts focused on CASM ex-fuel, fleet redeliveries, fuel recapture, and the Starlink announcement. Management said Q3 CASM ex-fuel of $0.0635 still reflects FX, U.S. flying mix, maintenance and redelivery events, plus lower Pratt & Whitney compensation as AOGs decline. On fuel recapture, Holger said Volaris calculates it differently than peers and achieved 28% in Q2 on its guidance basis, with about 86% recapture in the U.S.-Mexico transborder market; management expects transborder recapture to reach 100% by year-end under current conditions. On Starlink, Holger said the contract was negotiated as part of the Indigo Partners deal, rollout is expected across the fleet in 2027, and pricing is not yet defined, while Jaime said the operational data benefits should fully amortize the installation CapEx.
The bull case from this call is that Volaris is proving it can defend margins and generate cash even in an unusually tough fuel environment. Revenue, TRASM, and ancillary performance were strong, cash rose to $824 million, and management raised full-year EBITDAR margin guidance back to about 23%. The company also sees a structural tailwind from fleet recovery, lower lease liabilities, and ongoing international and ancillary growth.
The main risks are still fuel, maintenance, and fleet disruptions: CASM rose 31% year over year, the quarter showed a $127 million net loss, and management expects continued redeliveries and engine-related maintenance in the second half. Domestic pricing remains constrained by a price-sensitive market, and management admitted Q3 has execution risk in July and August even though demand is currently healthy. The fleet recovery is still incomplete, with AOGs expected to remain in the low-to-mid 20s near term, and the Viva transaction still awaits remaining regulatory approvals.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 75.4%
- Shares Outstanding
- 114.95M
- Float Shares
- 86.64M
of shares held by institutions
94 13F filers
Buy/sell ratio 1.65. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Indigo Partners LLC | 21.26M | 0 |
| Wellington Management Group Llp | 4.62M | ▼ 68.76K |
| Thomist Capital Management, LP | 1.75M | ▲ 215.62K |
| Long Focus Capital Management, LLC | 1.64M | 0 |
| Teewinot Capital Advisers, L.L.C. | 1.50M | 0 |
| Morgan Stanley | 1.20M | ▼ 328.95K |
| Discovery Capital Management, LLC / Ct | 964.17K | 0 |
| Goldman Sachs Group Inc | 775.66K | ▲ 302.08K |
| American Century Companies Inc | 767.69K | ▲ 86.13K |
| Walleye Capital LLC | 715.41K | ▲ 25.79K |
| Bank Of America Corp | 644.55K | ▲ 55.57K |
| Arrowstreet Capital, Limited Partnership | 491.98K | ▲ 261.33K |
Held by 11 ETFs
Biggest fund positions in VLRS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Apr 28, 26 | Maldonado Yanez Ricardo | other | 229,034 |
| Apr 24, 26 | Maldonado Yanez Ricardo | other | 65,370 |
| Apr 24, 26 | Maldonado Yanez Ricardo | other | 56,811 |
| Apr 28, 26 | Maldonado Yanez Ricardo | other | 122,573 |
| Apr 28, 26 | Maldonado Yanez Ricardo | other | 106,461 |
| Mar 18, 26 | Maldonado Yanez Ricardo | other | 0 |
| Mar 18, 26 | Maldonado Yanez Ricardo | other | 122,573 |
| Mar 18, 26 | Maldonado Yanez Ricardo | other | 67,872 |
| Mar 18, 26 | Maldonado Yanez Ricardo | other | 74,426 |
| Mar 18, 26 | Maldonado Yanez Ricardo | other | 106,461 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our VLRS coverage
Recent articles, reports, and earnings notes.
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Generate VLRS report →Volaris Reports Increase in Consolidated Load Factor for July
zacks.com · Aug 11
Volaris Reports July 2026 Traffic Results: Load Factor of 88%
globenewswire.com · Aug 5
Volaris Announces the Release of the 2025 Integrated Annual Report
globenewswire.com · Jul 31
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (NYSE:VLRS) Receives $9.08 Consensus Price Target from Brokerages
defenseworld.net · Jul 30
Controladora Vuela Compania de Aviacion Q2 Earnings Call Highlights
marketbeat.com · Jul 22
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (VLRS) Q2 2026 Earnings Call Transcript
seekingalpha.com · Jul 22
Compared to Estimates, Controladora Vuela (VLRS) Q2 Earnings: A Look at Key Metrics
zacks.com · Jul 21
Controladora Vuela (VLRS) Reports Q2 Loss, Beats Revenue Estimates
zacks.com · Jul 21
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