Volaris to lease 16 more new aircraft, with early deliveries of A320neo and A321neo driving increased fleet efficiency and growth

MEXICO CITY, Feb. 10, 2014 /PRNewswire/ — Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (“Volaris”) (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline serving Mexico, and the US, has signed a letter of intent with a leading aircraft lessor for 16 aircraft, comprised of ten new A320neo and six new A321neo, driving fleet growth while significantly enhancing efficiency. These NEO aircraft, powered Pratt Whitney’s PW1100G engines, will be delivered between 2016 and 2018.

Volaris CEO Enrique Beltranena commented: “These 16 aircraft together with the existing orders underpin the Volaris growth strategy by having a young, efficient and uniform fleet. Early delivery of next generation, fuel efficient Airbus A320neo and A321neo will allow us to maximize the use of airport slots in key markets and continue to further reduce our operating costs.”

According to the aircraft manufacturer, Airbus S.A.S., the A321neo provides a reduction of approximately 18% in operating cost per seat versus the existing A320 with sharklets in Volaris’ high density configuration.

These aircraft are in addition to the 50 aircraft under Volaris’ existing order and operating lease arrangements that are scheduled for delivery between 2014 and 2020.

The transaction is subject to the conclusion of satisfactory final documentation and customary corporate approvals.