Volaris seeks funding in the midst of the coronavirus crisis.

The Mexican airline Volaris said Friday that it intends to obtain financing for 3.5 billion pesos ($162.4 million dollars) to strengthen its capital structure, amidst the collapse in demand for flights around the world due to the coronavirus pandemic.

Volaris said in a statement that it will analyze various options at an extraordinary shareholders meeting on September 18, including the issuance of debt, bonds or shares, increasing the capital stock or a public or private offering of shares.

The low-cost airline plans to operate in September at 75% of its capacity, in terms of available seats per mile, after the capacity operated in May, June, July and August represented 11%, 37%, 55% and 70%.

By Reuters
(Report by Raúl Cortés Fernández, edited by Adriana Barrera)

Photo: JTOcchialini / Wikimedia