$CTTRF

Controladora Vuela Compania de Aviacion, S.A.B. de C.V.

CIK:0001520504|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Passenger revenues:
Fare revenues	$ 1,301,750	$ 1,517,106	$ 1,650,287
Other passenger revenues	1,580,665	1,492,593	1,473,237
Total passenger revenue	2,882,415	3,009,699	3,123,524
Non-passenger revenues:
Other non-passenger revenues	134,483	111,551	115,424
Cargo	20,618	20,626	20,025
Total operating revenues	3,037,516	3,141,876	3,258,973
Other operating income (Note 22)	(222,256)	(206,444)	(54,710)
Fuel expense (Note 3a)	885,520	893,987	1,165,078
Landing, take-off and navigation expenses	544,298	492,507	503,366
Salaries and benefits	451,096	411,253	386,723
Depreciation of right-of-use assets (Note 14)	448,570	409,935	362,015
Aircraft and engine variable lease expenses (Note 14)	196,082	135,155	103,845
Sales, marketing and distribution expenses	144,208	169,472	167,341
Maintenance expenses	129,930	100,426	98,445
Other operating expenses (Note 22)	116,901	139,248	169,864
Depreciation and amortization (Notes 12 and 13)	208,176	183,115	134,296
Operating income	134,991	413,222	222,710
Finance income (Note 23)	47,841	49,444	38,222
Finance cost (Note 23)	(314,139)	(293,639)	(219,343)
Foreign exchange gain (loss) net (Note 3b)	13,059	13,662	(34,147)
(Loss) income before income tax	(118,248)	182,689	7,442
Income tax benefit (expense) (Note 20)	14,376	(56,314)	377
Net (loss) income	$ (103,872)	$ 126,375	$ 7,819
(Loss) earnings per share basic:	$ (0.090)	$ 0.110	$ 0.007
(Loss) earnings per share diluted:	$ (0.090)	$ 0.108	$ 0.007

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating activities
Net (loss) income	$ (103,872)	$ 126,375	$ 7,819
Adjustments for:
Depreciation and amortization (including right-of-use-assets) (Notes 12, 13 and 14)	656,746	593,050	496,311
Allowance for credit losses (Note 8)	869	818	1,330
Finance income (Note 23)	(47,841)	(49,444)	(38,222)
Finance cost	312,911	292,135	218,130
Net foreign exchange (gain) loss differences	(30,651)	(10,245)	25,471
Derivative financial instruments (Notes 3 and 4)	2,475	2,213	579
Amortized Cost (CEBUR)	504	608	634
Net gain on disposal of sale and leaseback, rotable spare parts, furniture and equipment (Note 22)	(36,113)	(33,633)	(11,815)
Employee benefits (Note 17)	273	1,205	3,296
Aircraft and engine lease extension benefit and other benefits from service agreements	(761)	(761)	(761)
Income tax (benefit) expense	(14,376)	56,314	(377)
Management incentive and long-term incentive plans	6,272	5,178	5,769
Cash flow from used in operations before changes in working capital	746,436	983,813	708,164
Changes in operating assets and liabilities:
Related parties	963	(15,643)	3,390
Other accounts receivable	68,772	63,363	(7,784)
Recoverable and prepaid taxes	(20,921)	74,683	69,607
Inventories	(93)	(516)	(359)
Prepaid expenses	(64,958)	(35,991)	(24,488)
Other assets	971	(2,904)	(1,904)
Guarantee deposits	38,001	(48,634)	(58,243)
Suppliers	23,975	(70,072)	36,620
Accrued liabilities	40,874	56,661	(24,929)
Other taxes and fees payable	1,907	(29,005)	(9,453)
Unearned transportation revenue	18,019	(623)	(3,069)
Derivative financial instruments	(1,225)	(2,055)
Other liabilities	(30,844)	85,626	41,775
Cash generated from operating activities	821,877	1,058,703	729,327
Interest received	47,841	49,444	38,222
Income taxes paid	(119,891)	(18,418)	(37,724)
Net cash flows provided by operating activities	749,827	1,089,729	729,825
Investing activities
Acquisitions of rotable spare parts , furniture and equipment (Note 12)	(291,592)	(583,075)	(480,753)
Acquisitions of intangible assets (Note 13)	(24,283)	(17,598)	(10,387)
Acquisitions of other short-term investments	(21,606)	(48,717)	(17,012)
Proceeds from maturity of other short-term investments	47,135	16,877
Pre-delivery payments reimbursements (Note 12)	195,982	159,993	45,085
Proceeds from disposals of rotable spare parts, furniture and equipment	5,550		122
Proceeds from disposals of aircraft			901
Net cash flows used in investing activities	(88,814)	(472,520)	(462,044)
Financing activities
Transaction costs related to the CEBUR and other financing	(1,135)	(1,691)	(2,547)
Proceeds from exercised stock options			11
Proceeds from sale of treasury shares			1,018
Derivative financial instruments		(124)	(1,493)
Treasury shares purchase	(4,699)	(5,065)	(4,021)
Interest paid	(71,142)	(58,448)	(37,179)
Payments of lease liabilities (Note 14)	(631,019)	(583,395)	(529,074)
Payments of financial debt	(259,657)	(208,087)	(97,909)
Proceeds from financial debt	148,802	385,240	456,808
Net cash flows used in financing activities	(818,850)	(471,570)	(214,386)
(Decrease) increase in cash and cash equivalents	(157,837)	145,639	53,395
Net foreign exchange differences on cash balance	3,740	(11,812)	8,906
Cash and cash equivalents at beginning of year	907,981	774,154	711,853
Cash and cash equivalents at end of year	$ 753,884	$ 907,981	$ 774,154

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents (Note 6)	$ 753,884	$ 907,981
Short-term investments	20,208	45,737
Accounts receivable:
Related parties (Note 7)	3,436	2,161
Other accounts receivable, net (Note 8)	103,059	76,035
Recoverable value added tax and others	96,494	47,825
Recoverable income tax	59,062	12,789
Inventories (Note 9)	16,726	16,633
Prepaid expenses and other current assets (Note 10)	62,433	45,248
Derivative financial instruments (Notes 3, 4 and 5)	189	431
Guarantee deposits (Note 11)	277,854	227,211
Total current assets	1,393,345	1,382,051
Non-current assets:
Rotable spare parts, furniture and equipment, net (Note 12)	948,284	1,070,070
Right-of-use assets, net (Note 14)	2,531,125	2,469,580
Intangible assets, net (Note 13)	38,270	25,957
Derivative financial instruments (Notes 3, 4 and 5)		271
Deferred income taxes (Note 20)	359,770	286,199
Guarantee deposits (Note 11)	340,912	426,193
Other long-term assets	24,906	43,389
Total non-current assets	4,243,267	4,321,659
Total assets	5,636,612	5,703,710
Current liabilities:
Unearned transportation revenue (Note 21)	360,796	342,777
Suppliers	187,486	161,237
Related parties (Note 7)	4,601	2,363
Accrued liabilities (Note 15a)	269,189	223,392
Lease liabilities (Note 14)	409,125	391,158
Other taxes and fees payable (Note 1r)	268,541	274,178
Income taxes payable	11,593	28,737
Financial debt (Note 5)	261,721	283,616
Other liabilities (Note 16)	143,187	62,800
Total current liabilities	1,916,239	1,770,258
Non-current liabilities:
Financial debt (Note 5)	441,117	526,362
Accrued liabilities (Note 15b)	6,623	7,849
Lease liabilities (Note 14)	2,744,256	2,670,378
Other liabilities (Note 16)	237,631	333,332
Employee benefits (Note 17)	15,382	12,790
Deferred income taxes (Note 20)	11,583	17,928
Total non-current liabilities	3,456,592	3,568,639
Total liabilities	5,372,831	5,338,897
Equity (Note 19):
Capital stock	248,278	248,278
Treasury shares	(12,709)	(12,787)
Contributions for future capital increases
Legal reserve	17,363	17,363
Additional paid-in capital	283,180	283,362
Accumulated deficit	(125,581)	(21,709)
Accumulated other comprehensive loss (Note 24)	(146,750)	(149,694)
Total equity	263,781	364,813
Total liabilities and equity	$ 5,636,612	$ 5,703,710