EarningsQ2 2026 Earnings Report
DE:2CDA Q2 2026 EPS Results
Actual EPS-€0.99
Consensus EPS-€1.01
Beat/MissBeat by +€0.03
One Year Ago EPS-€0.48
DE:2CDA Q2 2026 Revenue Results
Actual Revenue€760.84M
Expected Revenue€759.94M
Beat/MissBeat by +€899.67K
YoY Revenue Growth+22.10%
Earnings Announcement Details
QuarterQ2 2026
Date07/21/2026
TimeAfter Close
Conference CallTuesday, July 21, 2026
DE:2CDA Upcoming Earnings
Controladora Vuela Compania de Aviacion SAB de CV's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:2CDA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mixed but overall constructive picture: management successfully navigated an extreme fuel environment through disciplined capacity, pricing and operational actions that produced strong top-line growth (revenues +24%, TRASM +22%), improved liquidity (+$58M), better fuel efficiency and outperformance on EBITDAR versus guidance, and they reinstated full-year margin guidance (23%). Significant challenges remain—especially the sharp YoY fuel cost increase (~70%), elevated CASM (+31%), Q2 net loss ($127M), ongoing maintenance/redelivery costs and near-term AOGs—that weigh on profitability. On balance, the highlights (robust revenue and unit revenue performance, cash build, margin resilience and clear recovery plan) meaningfully outweigh the lowlights, though results are sensitive to fuel and FX trends.Company Guidance
Revenue and TRASM Growth
Total operating revenues of $859 million in Q2, up 24% year-over-year on only 2% capacity growth; TRASM increased 22% year-over-year to $0.095 (record second quarter TRASM) and Q3 TRASM guidance of ~$0.099 (14% YoY, +4% sequential).
Strong U.S.–Mexico Transborder Performance
U.S.–Mexico transborder market ASMs +12% year-over-year; average base fares in the transborder market up ~25% YoY; transborder revenue growth >30% YoY and TRASM in that market grew ~21%; transborder fuel recapture ~86% in Q2.
Improved Cash and Liquidity Position
Ended Q2 with $824 million in cash, up $58 million sequentially; cash flow from operating activities of $272 million in the quarter; liquidity represented ~25% of last 12 months' operating revenues.
EBITDAR Outperformance and Reinstated Full-Year Guidance
Q2 EBITDAR of $141 million representing a 16.3% margin (above quarterly guidance of ~13%); reinstated full-year EBITDAR margin guidance of ~23%.
Network and Capacity Discipline
Disciplined capacity management: total ASMs +2% in Q2 (international +8%, domestic -2%); planned Q3 ASM growth ~10% (front-loaded to Jul/Aug) and full-year ASM growth ~5%, with capacity deployed where economic returns are strongest.
Fleet Recovery and Efficiency Gains
Aircraft on ground (AOGs) reduced from 41 at start of year to 24 at end of Q2; fleet of 155 aircraft with 68% NEOs; NEOs averaged 66.5% of productive fleet in Q2 (up from 56.6% in 2025); expected contractual fleet reduction to ~137 by end of 2027, implying ~$50 million annual lease savings and ~ $360 million reduction in lease liabilities.
Fuel Efficiency Improvements
Fuel efficiency (ASMs per gallon) improved 3.3% YoY from 105.8 to 109.2 ASMs/gal, avoiding ~2 million gallons and generating an estimated $7 million in fuel savings in Q2.
Ancillary and Loyalty Momentum
Ancillary revenue per passenger rose to $59, up 9% YoY; ancillaries represented ~56% of total operating revenues in Q2; Altitude loyalty program >2.1 million active members and INVEX co-branded cardholders >1 million; plan to roll out Starlink onboard internet to support ancillary monetization.
DE:2CDA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed