Monitor Q4 2026 results for TRASM and EBITDAR margin against guidance; the proposed Viva airline group closing in 2026 is a key catalyst. Fuel cost trajectory and GTF engine compensation will be critical for margin recovery.
Price Chart
Executive Summary
Volaris reported Q3 2026 revenue of $1,038M (+32% YoY) and a net loss of $26M ($0.23 loss per ADS), beating the consensus EPS estimate of -$0.91. The company achieved positive EBIT of $34M and guided Q4 2026 TRASM to ~10.90 cents and EBITDAR margin ~20%, with full-year 2026 ASM growth of ~5% and EBITDAR margin ~21%.
Key Financial Metrics
Key Facts
- Q3 2026 total operating revenues of $1,038M, up 32.4% YoY
- Net loss of $26M vs $6M net income in Q3 2025; loss per ADS of $0.23
- EPS of -$0.23 beat consensus estimate of -$0.91
- TRASM reached 10.31 cents, up 19.2% YoY, a historic milestone
- Operating income (EBIT) of $34M, down 50% YoY but positive
- EBITDAR of $263M, essentially flat YoY; EBITDAR margin 25.3%
- Total cash and short-term investments of $823M, 23% of LTM revenue
- Q4 2026 guidance: ASM growth ~4%, TRASM ~10.90 cents, CASM ex fuel ~6.50 cents, EBITDAR margin ~20%
- Full-year 2026 guidance: ASM growth ~5%, EBITDAR margin ~21%, CAPEX ~$350M
- Proposed airline group formation with Viva expected to close in 2026
Financial Impact
Revenue beat of $1,038M vs $18.06B consensus (note: consensus revenue appears to be in MXN or mis-scaled; actual USD revenue is $1,038M, up 32% YoY). EPS surprise of +74.7% ($0.23 loss vs $0.91 loss consensus).
Segment Breakdown
| Segment |
|---|
| Domestic |
| International |
Risk Factors
- Fuel costs up 57% YoY to $4.10/gallon, pressuring margins
- Net loss of $26M vs net income of $6M in prior year
- EBIT margin declined from 8.6% to 3.3%
- Net debt-to-LTM EBITDAR at 3.3x, unchanged QoQ
- Proposed Viva airline group subject to regulatory approvals
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3388619 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $6.00 | awaiting T+60 | — | $5.62 (−6.33%) |
Oct 6, 2026 21d ago | 6-K | $6.50 | awaiting T+60 | — | $5.62 (−13.54%) |
Sep 4, 2026 7w ago | 6-K | $6.79 | awaiting T+60 | — | $5.62 (−17.23%) |
Sep 3, 2026 7w ago | 6-K | $6.64 | awaiting T+60 | — | $5.62 (−15.36%) |
Aug 18, 2026 10w ago | 6-K | $7.14 | awaiting T+60 | — | $5.62 (−21.29%) |
Aug 5, 2026 11w ago | 6-K | $8.37 | awaiting T+60 | — | $5.62 (−32.86%) |
Jul 31, 2026 12w ago | Press Release | $8.08 $6.12 | ▼ −24.32% | ▼ −26.10% | $5.62 (−30.45%) |
Jul 30, 2026 12w ago | 3 | $7.83 $5.62 | ▼ −28.22% | ▼ −30.68% | $5.62 (−28.22%) |
Jul 22, 2026 13w ago | 6-K | $7.85 $5.99 | ▼ −23.69% | ▼ −26.96% | $5.62 (−28.41%) |
Jul 21, 2026 14w ago | 6-K | $7.85 $5.99 | ▲ +23.69% | ▲ +26.96% | $5.62 (+28.41%) |
US Market Status
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