Volaris* (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline serving Mexico, the United States and Central America, announces that the spread of the COVID-19 (Coronavirus), declared a pandemic by the World Health Organization, and the related governmental travel restrictions have significantly reduced the demand for global air transportation.
Accordingly, as of March 24th, 2020 Volaris will decrease capacity as measured by available seat miles (ASMs) for the rest of the month of March and the month of April, 2020 by approximately 50% of total operation versus the originally published schedule.
Volaris will also undertake several actions to reduce costs and maintain liquidity during this period of reduced demand and the resulting adjustments to network capacity. In addition, Volaris has implemented safety and hygiene protocols to protect the well-being of its passengers, crew and ground personnel.
Volaris will continue to provide relevant market updates should further capacity, governmental travel restrictions or other liquidity preserving measures need to be implemented.
The information included does not provide information on the company's future performance. Volaris' future performance depends on many factors and it cannot be inferred that any period's performance or its comparison year over year will be an indicator of a similar performance in the future.