Volaris: net income of $33 million for Q1 2024 despite GTF groundings

Low-cost carrier Volaris achieved net profitability for the first quarter of 2024 with a net income of $33 million, the first time the carrier has recorded a net profit in the first quarter since 2019, alongside posting an EBITDAR of $235 million (a 91% increase). Volaris’ EBITDAR margin was 30.6%, an increase of 14 percentage points. “Looking forward, booking curves remain solid. As we execute our strategy, we prioritize profitability when allocating capacity and are cautiously optimistic about achieving results in line with our updated guidance,” highlighted Enrique Beltranena, president and chief executive officer of Volaris. Total operating revenues for