Ultra-discount Mexican airline Volaris opened for trading on the New York Stock Exchange under the ticker symbol VLRS on Wednesday.
CEO Enrique Beltranena, joined by shareholders and Volaris management members, celebrated the company's first day of trading by ringing the Opening Bell and visiting the trading floor to witness the stock opening.
"The initial public offering of Volaris marks another significant milestone for this structurally unique airline," Mr. Beltranena said in a news release, citing the carrier's low fares and "the lowest unit cost position of any publicly traded airline in Latin America."
Volaris is the first Mexican company to list its IPO on the NYSE in 2013, and the second to list from Latin America this year, according to the release.
"Volaris is one of the largest airlines in Mexico and an excellent addition to the NYSE's community of leading global companies," Scott Cutler, executive vice president, Head of Global Listings, NYSE Euronext, said in a statement. "We congratulate Volaris on its IPO and look forward to a lasting partnership with the company and its shareholders."
The NYSE is the top destination for Latin-American companies listing outside their home market, according to the release. The exchange lists 78 companies from Latin America, with a combined market valuation of about $1.2 trillion.
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Volaris (BMV: VOLAR and NYSE: VLRS), is an ultra-low-cost carrier, or ULCC, based in Mexico. The company targets passengers who are visiting friends and relatives, cost-conscious business people and leisure travelers in Mexico and to select destinations in the U.S., according to the company. It began operations in 2006 and operates 43 aircraft on 80 routes.
For more information on NYSE Euronext's Listings business and to learn about trends in the IPO market, visit the NYSE Euronext IPO Center.
Source: NYSE Euronext
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