Mexico's Volaris Celebrates Initial Public Offering on the New York Stock Exchange
Mexico's Volaris Celebrates Initial Public Offering on the New York Stock Exchange
NEW YORK--(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.
Photos/Multimedia Gallery Available:http://www.businesswire.com/multimedia/home/20130918005985/en/
NYSE Euronext
Annmarie Gioia
Global Communications & Marketing
212-656-5437
agioia@nyx.com
KEYWORDS: United States Mexico North America Central America New York
INDUSTRY KEYWORDS:
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