Volaris Swings to $26 Million Q3 Loss as Costs Outpace Revenue

Volaris swung to a $26 million third-quarter net loss as operating expenses grew faster than operating revenue, despite a 32.4% increase in operating revenue for the three months ended Sept. 30.

Controladora Vuela Compañía de Aviación, S.A.B. de C.V., which operates as Volaris, released its unaudited results Oct. 26. Operating revenue reached $1.038 billion, up from $784 million in the third quarter of 2025. Operating expenses increased 40.2% to $1.004 billion, and operating income fell 50% to $34 million from $68 million.

Volaris put its average economic fuel expense at $4.10 a gallon, a 57.4% year-over-year increase. The average base fare increased 25.5% to $55 per passenger, while ancillary revenue per passenger rose 8.4% to $61.

Volaris posted a loss of 23 cents per American depositary share (ADS), compared with earnings of 5 cents per ADS a year earlier. Its EBITDAR margin was 25.3%, down 8.3 percentage points from the year-earlier quarter. Cash, cash equivalents and short-term investments totaled $823 million at quarter-end.

The Mexico-based ultra-low-cost carrier serves Mexico, the United States, Central America and South America. Its shares trade on the New York Stock Exchange under VLRS and on the Mexican Stock Exchange under VOLAR.

Volaris President and CEO Enrique Beltranena said, “we achieved double-digit TRASM for the first time in our history.” The financial information was prepared under International Financial Reporting Standards.