India, Feb. 24 -- Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) or Volaris, a Mexican ultra-low-cost carrier, on Monday reported a steep decline in net profit for the fourth quarter, amidst a drop in revenue. The results reflected depreciation of the Mexican peso against the U.S. dollar and a reduction in ASMs.
Commenting on the results, Enrique Beltranena, CEO of Volaris, said, "2024 was a remarkable year for Volaris. Despite continuous adversity from GTF engine inspections and aircraft groundings, we generated some of our best top and bottom-line results. Looking ahead, we anticipate the ongoing engine inspections to affect a significant portion of our fleet not only in 2025, but also in 2026 and 2027."
For the three-mo...