The low-cost airline VivaAerobus presented its results for the third quarter, highlighting a net profit of 70.4 million dollars, representing an increase of 14.6 million compared to the same period last year. Juan Carlos Zuazua, the company's CEO, attributed this result to higher unit revenues, lower fuel costs, and cost recoveries from compensation for grounded aircraft.
Zuazua mentioned that despite the current operational challenges, VivaAerobus's ultra-low-cost business and capacity management allowed them to maintain profitability. Total operating revenues increased by 16.4%, reaching 665 million dollars in the third quarter, driven by higher unit revenues, an occupancy factor of 89.9%, and disciplined capacity growth.
Operating profit stood at 161 million dollars, an increase of 43% compared to the previous year. The airline recorded 7.3 million booked passengers, an increase of 6.5%, reflecting higher demand in both the domestic and international markets.
During the third quarter of 2024, VivaAerobus averaged 24.1 A320neo aircraft on the ground due to reliability issues with Pratt & Whitney GTF engines. In light of this, Zuazua noted that they are taking measures such as extending leases, receiving new aircraft deliveries, and seeking short- and medium-term capacity to mitigate the impacts on their route network.
