Mexico City, Mexico. September 21, 2020 – Volaris* (NYSE: VLRS and BMV:
VOLAR), announces the resolutions of the general extraordinary shareholders
meeting held on September 18, 2020.
The general extraordinary shareholders meeting of the Company authorized a
capital increase of up to MXN3.5 billion Mexican pesos to strengthen its
capital position and take advantage of potential growth opportunities.
Volaris is evaluating different financing alternatives and has obtained
shareholder approval for the issuance of new shares that can be used to
raise capital, through a rights offering, the outright sale of shares, or
the issuance of debt/convertible debentures in Mexico, the United States of
America and other countries. Any such offering could be carried out
individually or in conjunction with other transactions. The determination
of the final terms and conditions of any such offering were delegated to
the Board of Directors and will be based on the prevailing market
conditions at the time of such offering.
Volaris is grateful to its shareholders for their support. The company's
goal is to obtain the most cost-effective financing structure that delivers
both strength to our balance sheet and reaffirms our long-term commitment
to employees and shareholders
Volaris remains dedicated to embracing growth opportunities in current and
new destinations. The Company considers the SARS-CoV-2 (COVID-19) crisis an
opportunity to ramp up more quickly and strengthen its competitive position
for the benefit of Volaris’ customers and shareholders.
A courtesy English translation of the shareholders’ meeting resolutions
summary are attached as an exhibit.
The information included does not provide information on the company’s
future performance. Volaris’ future performance depends on many factors
and it cannot be inferred that any period’s performance or its
comparison year over year will be an indicator of a similar performance
in the future.
About Volaris:
*(“Volaris” or the “Company”) (NYSE: VLRS and BMV: VOLAR), is an
ultra-low-cost carrier (ULCC), with point-to-point operations, serving
Mexico, the United States and Central America. Volaris offers low base
fares to build its market, providing quality service and extensive customer
choice. Since beginning operations March 2006, Volaris has increased its
routes from five to more than 142 and its fleet from four to 83 aircraft.
Volaris offers more than 304 daily flight segments on routes that connect
41 cities in Mexico and 21 cities in the United States with one of the
youngest fleets in The Americas. Volaris targets passengers who are
visiting friends and relatives, cost-conscious business and leisure
travelers in Mexico and in selected destinations in the United States and
Central America. Volaris has received the ESR Award for Social Corporate
Responsibility for eleven consecutive years. For more information, please
visit: www.volaris.com
Investor Relations contact:
María Elena Rodríguez & Andrea González/ Investor Relations / ir@volaris.com / +52 55 5261 6444
Media contact:
Gabriela Fernández / volaris@gcya.mx / +52 55 5246 0100