Mexico’s Volaris Celebrates Initial Public Offering on the New York Stock Exchange
September 18 2013 - 11:13AM
Business Wire
Mexico’s Volaris, an ultra-low-cost airline, opened for trading
today on the New York Stock Exchange (NYSE) under the ticker
symbol “VLRS” after an initial public offering of ADRs. GETCO is
the Designated Market Maker (DMM) for the company’s stock.
Volaris CEO Enrique Beltranena in the
center of the trading crowd as Volaris' stock opens on the NYSE.
(Source: NYSE Euronext photo)
Volaris CEO Enrique Beltranena, joined by members of the
Company’s shareholders and management team, celebrated the
company’s first day of trading by ringing The Opening Bell® and
visiting the NYSE trading floor to witness the stock opening.
"We’re delighted to welcome Volaris to the NYSE,” said Scott
Cutler, Executive Vice President, Head of Global Listings, NYSE
Euronext. “Volaris is one of the largest airlines in Mexico and an
excellent addition to the NYSE’s community of leading global
companies. We congratulate Volaris on its IPO and look forward to a
lasting partnership with the company and its shareholders.”
“The initial public offering of Volaris marks another
significant milestone for this structurally unique airline,” said
Enrique Beltranena, Chief Executive Officer of Volaris. “Our
revenue strategy is based on incentivizing demand by offering low
fares and a diversified set of optional products and services for
our clients. And by maximizing the utilization of our assets and
with labor contracts that include productivity and other variables,
we have been able to achieve the lowest unit cost position of any
publicly traded airline in Latin America. We are thankful for the
support of our very well chosen bank syndicate and the NYSE which
together with our shareholders have supported the company to
achieve a successful public offering.”
Volaris is the first Mexican company to list its IPO on the NYSE
in 2013, and the second to list from the Latin American region so
far this year. NYSE is the leading destination for Latin American
companies listing outside their home market. The NYSE currently
lists 78 companies from Latin America, with a combined market
valuation of approximately $1.2 trillion.
For more information on NYSE Euronext’s Listings business and to
learn about trends in the IPO market, please visit the NYSE
Euronext IPO Center.
About Volaris (NYSE: VLRS)
Volaris (BMV: VOLAR and NYSE: VLRS), is an ultra-low-cost
carrier, or ULCC, based in Mexico. Volaris utilizes its ULCC
business model and efficient operations to offer low base fares and
to stimulate demand while aiming to provide high quality customer
service. Volaris targets passengers who are visiting friends and
relatives, cost-conscious business people and leisure travelers in
Mexico and to select destinations in the United States. Volaris’
unbundled pricing strategy allows it to provide low base fares and
enables its passengers to select and pay for a range of optional
products and services. Volaris’ mission is to offer its clients
high quality customer service at an affordable price.
Since beginning operations in March 2006, Volaris has increased
its routes from 5 to 80 and its fleet from 4 to 43 aircraft.
Volaris operates an average of 203 flight segments daily on routes
that connect 30 cities in Mexico and 10 cities in the United States
with the youngest aircraft fleet in Mexico. Among other
recognitions, Volaris has received the ESR Award for Social
Corporate Responsibility for three consecutive years. For more
information, please visit: http://www.volaris.com
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial
markets and provider of innovative trading technologies. The
company's exchanges in Europe and the United States trade equities,
futures, options, fixed-income and exchange-traded products. With
approximately 8,000 listed issues (excluding European Structured
Products), NYSE Euronext's equities markets - the New York Stock
Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca -
represent one-third of the world's equities trading, the most
liquidity of any global exchange group. NYSE Euronext also operates
NYSE Liffe, one of the leading European derivatives businesses and
the world's second-largest derivatives business by value of
trading. The company offers comprehensive commercial technology,
connectivity and market data products and services through NYSE
Technologies. NYSE Euronext is in the S&P 500 index. For more
information, please visit: http://www.nyx.com.
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NYSE EuronextAnnmarie GioiaGlobal Communications &
Marketing212-656-5437agioia@nyx.com
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