1 Airline Is Already Recovering From COVID-19
For most airlines, the pain of the COVID-19 pandemic is far from over. Cash burn has slowed compared to the spring, but revenue remains at a fraction of 2019 levels and breakeven is months away (at best). Furthermore, it could take three years or more for many airlines to return to their 2019 size.
Mexican budget airline Volaris (NYSE: VLRS) is one of the few exceptions to the rule. In fact, the carrier's recent third-quarter earnings report should bolster investors' confidence that Volaris will emerge from the pandemic even stronger than it was a year ago.
Three months ago, Volaris reported that revenue plunged 82% year over year to 1.5 billion pesos ($66 million) in the second quarter. While the company was able to slash operating expenses by 50%, it still posted an operating loss of 2.3 billion pesos ($102 million) for the period.
Source Fool.com
