Volaris: Traffic maintains positive trend

  • Volaris’ total passengers in November increased 13.7% y/y, supported by domestic growth 9.5% and international 32.7%

  • Load factor decreased 0.6pp, although standing at a good level of 88.0%. In turn, the cost of fuel dropped 2.7% m/m

  • We expect an improvement in margins m/m, but the y/y comparison will be difficult for year-end

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