Volaris, First Mexican Airline to be Sarbanes-Oxley Act Compliant
- This achievement demonstrates the effectiveness of the internal control system over the airline financial reporting standards
MEXICO CITY, April 30, 2015 /PRNewswire/ -- Volaris* (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline with the most extensive route network servicing Mexico and the US, filed today its Form 20-F with the Securities Exchange Commision (SEC) and its Annual Report, with the Bolsa Mexicana de Valores (Mexican Stock Exchange or BMV) and Comision Nacional Bancaria y de Valores (Mexican Banking and Securities Commission or CNBV).
As part of our 20-F filing, Volaris obtained a positive opinion from our external auditors Mancera, S.C, (E&Y) confirming that the airline maintained, in all material respects, an effective internal control over financial reporting as of December 31, 2014. This places Volaris as the most reliable airline in Mexico regarding the internal controls and financial information conveyed to its investors.
Volaris' CEO Enrique Beltranena commented: "We are pleased to be the first Mexican airline to comply with the Sarbanes-Oxley Act. This achievement demonstrates the effectiveness of the internal controls system over our financial reporting, and the strength of our policies and procedures that marks Volaris way of doing business, while reinforcing our commitment to transparency and reliability for our investors and Customers."
Volaris continues to be committed to the highest standards of corporate governance, aligned with our investor interests.
About Volaris:
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. ("Volaris" or the "Company") (NYSE: VLRS and BMV: VOLAR), is an ultra-low-cost carrier (ULCC), with point-to-point operations, serving Mexico and the United States. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since beginning operations in March 2006, Volaris has increased its routes from five to more than 138 and its fleet from four to 52 aircraft. Volaris offers more than 230 daily flight segments on routes that connect 38 cities in Mexico and 21 cities in the United States and Central America with the youngest aircraft fleet in Mexico. 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 has received the ESR Award for Social Corporate Responsibility for five consecutive years. For more information, please visit: www.volaris.com
Forward-looking Statements:
Statements in this release contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words "expects," "estimates," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "targets" and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Company's intentions and expectations regarding the delivery schedule of aircraft on order, announced new service routes and customer savings programs. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of factors that could cause the Company's actual results to differ materially from the Company's expectations, including the competitive environment in the airline industry; the Company's ability to keep costs low; changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket revenues; and government regulation. Additional information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings.
Investor Relations Contact:
Andres Pliego / Investor Relations / [email protected] / +52-55-5261-6444
Media Contact:
Cynthia Llanos / [email protected] / +52-1-55-4577-0803
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SOURCE Volaris
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