Volaris shareholders authorize capital increase

Volaris ©AirTeamImages

The general extraordinary shareholders meeting of Mexican low-cost airline Volaris, has authorized a capital increase of up to MXN3.5 billion (US$156 million) to strengthen the carrier’s capital position and to 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.

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