By Chris Wack
Controladora Vuela Compañía de Aviacion ADRs were down 11% to $6.94 after the company reported fourth-quarter earnings that missed analysts' expectations.
The airline, also known as Volaris, said Monday it had quarterly earnings of $46 million, or 39 cents an ADR, compared with $112 million, or 96 cents an ADR, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $57.8 million, or 54 cents per ADR.
Revenue for the quarter was $835 million, compared with last year's $899 million and the $842 million analysts were expecting.
Total revenue per available seat mile was down 2%, while available seat miles fell by 5%, to 8.9 billion.
Volaris said it saw "continuous adversity" from engine inspections and aircraft groundings, and it expects ongoing engine inspections to affect a significant portion of its fleet through 2027.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 24, 2025 13:50 ET (18:50 GMT)
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