Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE:VLRS) Q3 2023 Earnings Conference Call October 25, 2023 11:00 AM ET

Company Participants

Ricardo Martinez - IR Director

Enrique Beltranena - President and CEO

Holger Blankenstein - Airline EVP

Jaime Pous - CFO

Conference Call Participants

Duane Pfennigwerth - Evercore ISI

Stephen Trent - Citi

Helane Becker - TD Cowen

Michael Linenberg - Deutsche Bank

Rogerio Araujo - Bank of America

Guilherme Mendes - JPMorgan

Bruno Amorim - Goldman Sachs

Pablo Monsivais - Barclays

Alberto Valerio - UBS

Neil Glynn - AIR Control Tower

Operator

Good morning, everyone. Thank you for standing by. Welcome to Volaris's Third Quarter 2023 Financial Results Conference Call. All lines are in a listen-only mode. Following the company's presentation, we will open the call for your questions. Please note that we are recording this event. This event is also being broadcast live via webcast and can be accessed through the Volaris website.

At this point, I would like to turn the call over to Ricardo Martinez, Investor Relations Director. Please go ahead, Ricardo.

Ricardo Martinez

Good morning, and thank you for joining the call. With me today is our President and CEO, Enrique Beltranena; our Airline Executive Vice President, Holger Blankenstein; and our Chief Financial Officer, Jaime Pous. They will be discussing the company's quarterly results. Afterward, we will move on to your questions. Please note that this call is for investors and analysts only.

Before we begin, please remember that this call may include forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are subject to several factors that could cause the company's results to differ materially from expectations as described in the company's filings with the United States SEC and Mexico's CNBV. These statements speak only as of the day they are made. And Volaris undertakes no obligation to update or modify any forward-looking statements.

As in our earnings press release, our numbers are in U.S. dollars compared to last year's quarter, unless otherwise noted.

And, with that, I will turn the call over to Enrique.

Enrique Beltranena

Thank you, Ricardo, and everyone for joining us today.

I want to begin by highlighting the quarterly results compared to last year's figures. In the third quarter, ASMs increased by 10%, total operating revenue by 8%, EBIT by 11% and EBITDAR by 18%. Before we explain in detail the third quarter results, which Holger and Jaime will present, I'll address two key topics. The first one, Pratt & Whitney GTF engines preventive accelerated inspections and the second one is Mexico City International Airport slot restructuring and FAA's Category 1 capacity ramp-up plan.