MEXICO
CITY, June 14, 2023 /PRNewswire/ -- Volaris
(NYSE: VLRS and BMV: VOLAR) ("the Company"), the
ultra-low-cost carrier (ULCC) serving Mexico, the United
States, Central and South
America, announces a $50
million investment agreement alongside Indigo Partners,
GenZero, Cleanhill Partners, Frontier Airlines, and Wizz Air. The
investment aims to accelerate the production of Sustainable
Aviation Fuel (SAF) worldwide through the North American startup
CleanJoule.
CleanJoule will utilize this investment to develop its
technology for producing high-performance and cost-effective SAF
from agricultural waste and organic residues. According to the
International Air Transport Association (IATA), SAF, with its lower
carbon footprint, could potentially contribute up to 65% of the
emissions reductions required for the aviation sector to achieve
zero emissions by 2050.
As part of the consortium's investment, Volaris, Frontier
Airlines, and Wizz Air have agreed to acquire a total of 90 million
gallons of SAF, with Volaris estimated to receive 30 million
gallons. "The development of sustainable fuel has made significant
progress but still faces challenges, such as achieving competitive
and cost-effective production volumes, especially for airlines
operating under the low-cost model. That is why joining this
investment is crucial to ensure the viability of our model and the
sustainability of our business," commented Enrique Beltranena, Volaris' President and
CEO.
Through its corporate sustainability strategy, Volaris
implements practices that reduce the environmental impact of its
operations. As part of this commitment, the airline maintains one
of the youngest fleets in the continent, with over 50% of its
aircraft being NEO models. In August
2022, Volaris successfully conducted its first flight using
a blend of SAF.
The information included in this report has not been audited
and does not provide information on the company's future
performance. Volaris' future performance depends on many factors.
It cannot be inferred that any period's performance or its
comparison year over year will indicate a similar performance in
the future.
About Volaris:
Controladora Vuela Compañía de
Aviación, S.A.B. de C.V. ("Volaris" or the "Company") (NYSE: VLRS
and BMV: VOLAR) is an ultra-low-cost carrier, with point-to-point
operations, serving Mexico,
the United States, Central, and
South America. Volaris offers low
base fares to build its market, providing quality service and
extensive customer choice. Since the beginning of operations in
March 2006, Volaris has increased its
routes from 5 to more than 242 and its fleet from 4 to 123
aircraft. Volaris offers more than 500 daily flight segments on
routes that connect 43 cities in Mexico and 28 cities in the United States, Central, and South America, with one of the youngest
fleets in Mexico. Volaris targets
passengers who are visiting friends and relatives, cost-conscious
business and leisure travelers in Mexico, the United
States, and Central and South
America. Volaris has received the ESR Award for Social
Corporate Responsibility for thirteen consecutive years. For more
information, please visit ir.volaris.com.
Investor Relations Contact
Ricardo Martínez /
ir@volaris.com
Media Contact
Gabriela Fernández /
gabriela.fernandez@volaris.com
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SOURCE Volaris