Mexico City; February 21, 2017 .- Grupo VivaAerobus, the holder of Mexico´s low cost airline, reported a 69% increase in net income compared to 2015, reaching 766 million pesos and a cumulative margin of 12%.
In addition, in its report concerning the annual results of 2016 and the results of the fourth quarter of 2016, Grupo Viva Aerobus reports the following.
Regarding the annual results of 2016:
- In 2016, operating revenue increased substantially by 41% over the previous year, reaching 6,215 million pesos. There results were driven by the passenger growth, thanks to the most competitive rates in the Mexican market. Passenger revenues accounted for 59% of total revenues, while the other 41% corresponded to the rev-enues from additional services.
- At the end of 2016, EBITDA reached 2,599 million pesos with a margin of 42%, a solid 60% increase when compared to 2015.
- During 2016, the renewal and modernization of the fleet was completed. Viva Aero-bus finished the year with 21 Airbus (19 Airbus 320ceo and 2 Airbus 320neo). It is one of the youngest and most modern fleets in the country and will expand to 53 aircraft by 2020.
- Total operating costs at the end of 2016 reached 5,547 million pesos, an increase of 43% over the previous year. This variation is mainly due to the increase in the operating capacity, as well as increases from macroeconomic factors such as fuel and the exchange rate.
- • During 2016, short-term financial debt was reduced by 49%, from 832.7 million pe-sos to 423.8 million pesos. Long-term financial debt increased by 33% in 2016 to 1,413 million pesos, mainly due to the financing strategy of the fleet acquisition.
Regarding the results of the fourth quarter of 2016:
- During the fourth quarter of 2016, operating revenue grew 38% compared to the same period in 2015, with 1,849 million pesos. 53% correspond to passenger reve-nues and 47% to additional services revenues.
- At the end of the fourth quarter of 2016, the net income reached 183 million pesos with a margin of 10%.
- In the fourth quarter of 2016, EBITDA reached 739 million pesos with a margin of 40%. This means an increase of 17% compared to the fourth quarter of 2015.
- Total operating costs at the end of the fourth quarter of 2016 were $ 1,890 million, an increase of 70% compared to the fourth quarter of 2015. This variation is mainly due to the increase in operating capacity, an increase in macroeconomic factors such as fuel and the exchange rate; as well as the expenses related to the removal of the last B737-300 aircraft, an action that is part of the fleet modernization strategy.
"Ten years from the foundation of Viva Aerobus, we have achieved solid operating and financial results thanks to the many initiatives for flyign with the most competitive prices. Besides, we are going through a turning point, which its very first result is the modernization of our fleet. We finished the year with 65 routes and 30 different destinations, opening 5 new routes. Passengers are our engine, so we will keep working with a renewed customer focus to continue boosting our low cost model and allowing millions of customers to fly for the first time", mentioned Gian Carlo Nucci, CEO of Grupo Viva Aerobus.
About Grupo Viva Aerobus
It is the holding of several companies, among which is the airline Viva Aerobus
About Viva Aerobus
Viva Aerobus is Mexico's low-cost airline. It started operations in 2006 and today operates the youngest Latin American fleet with 21 Airbus 320, including two A320neo on 67 routes and 30 differ-ent destinations. With a clear vision to give all people the opportunity to fly, Viva Aerobus has de-mocratized the airline industry with the lowest rates in México and the lowest costs in Latin America, making their flights the best value offer.