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Volaris (VOLARA) investor relations material
Volaris Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 5.6–6.3% capacity growth in Q4 2025, with TRASM converging to prior year levels despite operational headwinds and a focus on profitability.
Ancillary revenues comprised over 56% of total operating revenues, reinforcing the ultra-low-cost model.
Maintained strong cost discipline, ending 2025 with a full-year EBITDA/EBITDAR margin of 32.5%.
Sequential improvement in cross-border performance and loyalty program uptake, with ~800k new enrollments.
Announced proposed airline group with Viva to expand market reach, pending regulatory approval.
Financial highlights
Q4 2025 operating revenues were $882 million, up 5.6–6% year-over-year; full-year revenues were $3,038 million, down 3–3.3%.
Q4 EBITDA/EBITDAR was $328 million (37.2% margin); EBIT was $100 million (11.3% margin); net profit was $4 million ($0.04 per ADS).
Full-year 2025 EBITDA/EBITDAR was $988 million (32.5% margin); EBIT $135 million (4.4% margin); net loss $104 million ($0.91 per ADS).
Q4 CASM was $0.0829 (up 3.2%); CASM ex fuel $0.0576 (up 1.4%); full-year CASM ex fuel $0.0558.
Ended Q4 with $774 million liquidity (25–25.5% of LTM revenues); net debt/EBITDA or EBITDAR at 3.1x.
Outlook and guidance
2026 ASM growth expected at ~7%, with most incremental capacity allocated to international markets.
2026 EBITDA/EBITDAR margin guided at ~33%; CapEx expected at ~$350 million.
Q1 2026 guidance: ASM growth ~3%, TRASM ~$0.085 or 8.50¢, CASM ex fuel ~$0.06 or 6.00¢, EBITDA/EBITDAR margin ~25%.
Expect net debt/EBITDA to improve to 2.6x by end of 2026 as AOGs decline.
Fleet normalization and AOG recovery expected to drive multi-year earnings improvement.
- Record Q2 EBITDAR/EBITDA and net income achieved despite 17% capacity cut.VOLARA
Q2 20243 Feb 2026 - Q3 net income, record margins, and strong demand despite capacity and engine headwinds.VOLARA
Q3 202419 Jan 2026 - Q1 2025 net loss and lower revenue prompt capacity cuts and focus on cost discipline.VOLARA
Q1 202527 Dec 2025 - 2024 net income hit $126M with 36% EBITDAR margin; 2025 targets 13% ASM growth.VOLARA
Q4 202423 Dec 2025 - Merger creates a 50/50 airline group to drive growth, cost savings, and expanded connectivity.VOLARA
M&A Announcement19 Dec 2025 - Leading ULCC in Latin America, combining cost efficiency, network growth, and sustainability.VOLARA
Corporate Presentation19 Dec 2025 - Q2 2025 posted a $63M net loss, 4.5% revenue drop, and 27.9% EBITDAR margin; 2025 margin 32–33%.VOLARA
Q2 202516 Nov 2025 - Q3 2025 profits fell, but strong ancillary and disciplined growth support a positive outlook.VOLARA
Q3 202529 Oct 2025
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