An early review of Pratt & Whitney (P&W) engines has led to the inspection of nearly a thousand engines during 2024, affecting several airlines worldwide, including Mexican ones. Dozens of aircraft have been grounded, resulting in reduced availability of domestic flights in Mexico and consequently an increase in ticket prices.
Airfares in Mexico are expected to rise more than 60% by 2025, despite a global downward trend in flight prices. This increase is due to the reduction of available aircraft for domestic routes, which has caused significant fare increases on flights such as Mexico City to Cancun, which has seen a 51% increase.
Although the Mexico-Merida route has been less affected by the lack of aircraft, it has also experienced a 32% increase in its airfares in the last year. According to data from Inegi, airfare for passenger transport has increased by 12% this year compared to 2023 and is 47% above 2019 levels.
Despite this scenario, the airline Volaris has managed to increase its net profits, moving from a loss to significant gains in the third quarter of 2024. This is partly due to an EBITDA margin of 33%, the highest since 2021, according to Bloomberg data. Volaris has shown notable growth compared to other airlines, positioning itself as one of the most profitable in the sector.
The review of the Pratt & Whitney engines has primarily impacted Volaris and Viva Aerobus, Mexican airlines operating Airbus aircraft equipped with these engines. The review originated from issues detected in the manufacturing materials of the engines, which could cause cracks in the high-pressure turbine disks.
