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The Concesionaria Vuela Companía de Aviación —commonly known as Volaris— held the largest share of air traffic within Mexico in 2021, accounting for over ** percent of passengers in domestic scheduled and non-scheduled flights. Meanwhile, roughly **** percent of the domestic travelers in the North American country flew that year with Grupo Aeroméxico’s airlines: Aerolitoral and Aerovías de México.

Volaris’s economic performance in the COVID-19 year

Volaris, founded in 2004, is Mexico’s major low-cost airline and it operates both domestic and international routes. Since 2014, the company experienced important increases in revenue, which peaked in 2019 at nearly ** billion Mexican pesos. Due to the COVID-19 pandemic, however, this figure dropped by ** percent in 2020. In that difficult year, the company’s net income entered into negative terrain for the third time since 2014, but with a significantly larger drop. Though in comparison to one of its main competitors, Interjet, Volaris still managed to come out of 2020 in better shape. In December of that year, Interjet canceled all its flights due to financial difficulties.

COVID-19 impact on the region’s aviation market

In Latin America and the Caribbean, the global health crisis of 2020 harshly impacted the aviation industry. Though the international and domestic air transport registered strong declines in the number of passengers carried, it was the regional segment —which refers to flight between Latin American and Caribbean countries— the one that suffered the most that year.