Report Title:¶

Value Chain Analysis of the Airlines in Mexico.

Commercial Relationships¶

The airline industry value chain in Mexico is characterized by a complex web of commercial relationships connecting various players across different segments. These relationships are fundamental to the operation and performance of the industry.

In the Infrastructure step, airlines have crucial commercial relationships with airport operators (private concessionaires like GAP, ASUR, and OMA, and state-owned entities like GACM) and government agencies like SENEAM (Air Traffic Control) and ASA (fuel supply). Airlines pay fees to airport operators for the use of terminals, runways, gates, and other facilities. These fees can include landing fees, parking fees, passenger fees, and concession revenues from airport retail and food services. The relationship with ATC (SENEAM) is regulatory and operational, ensuring safe navigation, but also involves fees for air navigation services. Commercial relationships with fuel suppliers like Pemex and ASA involve contracts for the procurement, storage, and delivery of jet fuel, which is a significant operating cost for airlines.

In the Aircraft and Fleet Management step, airlines interact commercially with aircraft manufacturers (globally, like Boeing and Airbus), aircraft leasing and financing companies (such as ALC and CDB Aviation), and MRO providers (like Aeroman and Lufthansa Technik). Relationships with manufacturers involve large-scale purchase agreements, although direct purchases are often supplemented or replaced by leasing arrangements. Leasing companies acquire aircraft and lease them to airlines, establishing long-term contractual relationships. MRO providers offer maintenance services through contracts, which can be time-and-material based, fixed-price, or power-by-the-hour arrangements, ensuring aircraft airworthiness and safety. Some airlines may also have in-house MRO divisions, altering the external commercial relationship in this segment.

Within Airline Operations, the primary commercial relationships are with passengers and cargo shippers (customers). Airlines sell transportation services directly or indirectly. They also form alliances and partnerships with other airlines (e.g., Aeroméxico with Delta as part of the SkyTeam alliance, and the proposed alliance between Viva Aerobus and Allegiant Air) to expand networks, offer code-sharing, and provide seamless travel experiences for passengers. These alliances involve complex commercial agreements covering revenue sharing, marketing, and operational coordination. Cargo airlines and cargo divisions of passenger airlines have commercial relationships with freight forwarders and businesses requiring air transport for goods.

The Distribution and Sales step involves airlines interacting with various intermediaries and directly with customers. Commercial relationships exist with Online Travel Agencies (OTAs), traditional travel agencies, and Global Distribution Systems (GDSs) like Amadeus and Sabre. Airlines pay commissions or booking fees to these intermediaries for ticket sales. Airlines also invest in direct sales channels (websites, mobile apps) to build direct commercial relationships with customers, reducing distribution costs. Ancillary services involve commercial relationships with third-party providers (e.g., travel insurance companies) or are sold directly by the airline, adding revenue streams beyond the base fare.

In the Support Services step, airlines contract with specialized companies for various functions. Commercial relationships with ground handling companies (like Swissport and PrimeFlight Mexico) involve service agreements for baggage handling, ramp services, and passenger assistance. Catering companies have contracts to supply in-flight meals and beverages. Security services are often provided through contracts with private security firms, in coordination with government security agencies. These relationships are typically service-level agreements outlining the scope and quality of services provided.

These commercial relationships are often governed by detailed contracts that specify pricing, service levels, payment terms, and regulatory compliance. The nature of these relationships can vary significantly based on the business models of the involved parties (e.g., the relationship between a low-cost carrier and an airport operator might differ from that of a full-service carrier).

Products and Services Exchanged¶

Along the value chain, a diverse range of products and services are exchanged between the different players.

In the Infrastructure step: * Airport Operations: Airlines receive access to and use of airport facilities (runways, taxiways, gates, terminals, check-in counters, baggage systems) and associated services (airfield lighting, emergency services). Airport operators exchange these services for fees from airlines and revenues from commercial concessions within the airport. * Air Traffic Control (ATC): Airlines receive air navigation services, including guidance for takeoff, landing, and en-route flight, ensuring safety and efficiency in controlled airspace. SENEAM provides these services in exchange for air navigation fees paid by airlines. * Fuel Supply: Airlines receive aviation jet fuel delivered to their aircraft at the airport. Pemex and ASA, along with other distributors, provide the fuel in exchange for payment based on volume and price.

In the Aircraft and Fleet Management step: * Aircraft Manufacturing (Global): Airlines (or leasing companies) acquire new aircraft from manufacturers like Boeing and Airbus. Mexico's aerospace sector contributes components to these global manufacturers. * Aircraft Leasing and Financing: Airlines receive the use of aircraft for a specified period through lease agreements. Leasing companies provide the aircraft in exchange for lease payments. Financial institutions provide loans for aircraft purchases or support leasing operations in exchange for interest and fees. * Maintenance, Repair, and Overhaul (MRO): Airlines receive maintenance, repair, and overhaul services for their aircraft and components, ensuring airworthiness and safety compliance. MRO providers offer these specialized technical services in exchange for service fees.

In the Airline Operations step: * Passenger Airlines: Passengers purchase air transportation services (tickets) from airlines, allowing them to travel between destinations. Airlines provide the flight service, including cabin crew, in-flight services (depending on the business model), and baggage transport. Airlines also exchange services with alliance partners, such as code-sharing on routes. * Cargo Airlines: Businesses and individuals purchase air cargo transportation services from cargo airlines, enabling the shipment of goods by air. Cargo airlines provide the logistics and transportation of goods.

In the Distribution and Sales step: * Direct Sales: Customers purchase airline tickets and ancillary services directly from the airline through their online platforms or call centers. Airlines provide the booking and payment processing services. * Indirect Sales: Travel agencies and OTAs sell airline tickets to customers. GDSs provide a platform for airlines to list their flights and fares, and for travel agencies to access and book these flights. Airlines provide access to their inventory and pay commissions or fees for bookings made through these channels. * Ancillary Services: Customers purchase optional services such as preferred seating, extra baggage allowance, in-flight Wi-Fi, and travel insurance from airlines or third-party providers integrated with the airline's booking process. Airlines or third parties provide these additional services.

In the Support Services step: * Ground Handling: Airlines receive a range of services at the airport, including check-in assistance, baggage handling (loading and unloading), aircraft pushback and towing, and aircraft cleaning. Ground handling companies provide these labor-intensive services. * Catering: Airlines receive prepared meals and beverages for consumption by passengers and crew during flights. Catering companies provide these food and beverage services. * Security: Airlines and airports receive security services, including passenger and baggage screening, airside security patrols, and cargo security checks, ensuring compliance with security regulations. Government agencies and private security contractors provide these services.

Business Models¶

Various business models are employed by the different players within the Mexican airline industry value chain, influencing their commercial relationships and operations.

In the Infrastructure step: * Airport Operators (Private Concessionaires - GAP, ASUR, OMA): These operators typically follow a concession model where they are granted rights by the government to operate and develop airports for a specified period. Their business model relies on generating revenue from aeronautical services (landing fees, parking fees, passenger fees paid by airlines) and non-aeronautical services (retail concessions, food and beverage sales, parking revenues, car rental, advertising). * Airport Operators (State-Owned - GACM): Similar to private operators in providing services, their business model may be less driven purely by profit maximization and more by public service objectives, though they still generate revenue from airport operations. * Air Traffic Control (SENEAM): Operates on a public service model as a government agency, funded through government budgets and fees collected from airlines for air navigation services. * Fuel Supply (Pemex, ASA): Pemex operates on a state-owned enterprise model for fuel production and distribution. ASA operates as a decentralized government agency involved in fuel storage and supply at airports, operating on a cost-recovery or regulated pricing model for the fuel it provides to airlines.

In the Aircraft and Fleet Management step: * Aircraft Manufacturing (Global): Manufacturers like Boeing and Airbus operate on a build-to-order or build-to-stock model, selling aircraft directly to airlines or leasing companies. Their business model relies on large sales contracts and long-term support agreements. * Aircraft Leasing and Financing: Leasing companies utilize an asset-heavy model where they purchase aircraft and generate revenue through lease payments from airlines. This provides airlines with an "Aircraft-as-a-Service" model, allowing them to operate fleets without significant upfront capital expenditure. * Maintenance, Repair, and Overhaul (MRO): MRO providers operate on a service-based model, offering specialized technical services to airlines. Their revenue comes from maintenance contracts, which can be structured in various ways (e.g., time and materials, fixed price, or power-by-the-hour). Some airlines also have in-house MRO capabilities, following an integrated operational model for fleet maintenance.

In the Airline Operations step: * Passenger Airlines (Mexican ULCCs - Volaris, Viva Aerobus): Employ an Ultra-Low-Cost Carrier (ULCC) business model focused on offering unbundled low base fares and generating significant revenue from ancillary services (baggage fees, seat selection, in-flight sales, priority boarding). They typically operate a single type of aircraft to reduce costs, utilize point-to-point networks, and prioritize high aircraft utilization. * Passenger Airlines (Mexican Full-Service - Aeroméxico): Operates as a traditional full-service network carrier, offering bundled fares that include services like checked baggage, meals, and in-flight entertainment. Their model relies on a hub-and-spoke network, participation in global alliances (SkyTeam), and targeting both leisure and business travelers. * Passenger Airlines (International): Operate various business models depending on their origin and strategy, including full-service, low-cost, and hybrid models, when serving the Mexican market. * Cargo Airlines: Operate on a dedicated cargo transport model, focusing on logistics, efficiency, and timely delivery of goods by air.

In the Distribution and Sales step: * Direct Sales: Airlines use a direct-to-consumer model through their websites, mobile apps, and call centers, aiming to maximize revenue capture and customer relationship management. * Indirect Sales (OTAs, Travel Agencies): These intermediaries operate on a commission or fee-based model, earning revenue for selling airline tickets and other travel services. * Global Distribution Systems (GDSs): GDSs operate as technology platform providers, facilitating bookings between airlines and travel agencies and charging transaction fees. * Ancillary Services: Airlines and third parties employ a supplementary revenue generation model by offering optional products and services beyond the base airfare.

In the Support Services step: * Ground Handling, Catering, Security: These providers operate on a service contract model, offering specialized services to airlines and airports and generating revenue based on the volume and scope of services provided.

Bottlenecks and Challenges¶

Despite the growth and potential of the Mexican airline industry, several significant bottlenecks and challenges impact its efficiency, growth, and profitability.

A primary bottleneck is airport infrastructure capacity, particularly in the central Mexico region, specifically Mexico City. The Mexico City International Airport (AICM) operates beyond its design capacity, leading to congestion and operational delays. While the new Felipe Ángeles International Airport (AIFA) was inaugurated to help alleviate this, the integration of a multi-airport system presents operational complexities and challenges for airlines and air traffic control. The cancellation of the previously planned New Mexico City International Airport (NAIM), which was designed for significantly higher capacity, is seen as a major setback for long-term capacity needs. This infrastructure constraint limits the ability of airlines to increase frequencies and open new routes, hindering growth and competitiveness.

Another critical challenge is the shortage of skilled personnel, particularly air traffic controllers. SENEAM faces a significant deficit of controllers, estimated at nearly half the required workforce. This shortage, coupled with increased workload due to airspace redesign and the multi-airport system, leads to extended shifts and potential safety risks. Insufficient funding and outdated systems within ATC further exacerbate this challenge. Beyond ATC, there are also broader concerns about the availability of pilots and MRO technicians.

Supply chain constraints are a global challenge impacting the Mexican airline industry. Delays in aircraft manufacturing from major OEMs like Airbus and Boeing, stemming from issues with engine availability and other component shortages, affect airlines' ability to receive new aircraft on schedule. This can lead to delays in fleet modernization and expansion plans. Additionally, disruptions in the supply chain for spare parts can impact MRO operations, leading to longer maintenance times and aircraft grounded for repairs.

The regulatory environment and government policies can also pose challenges. Past issues, such as the downgrade of Mexico's air safety rating by the FAA, significantly impacted Mexican airlines' ability to expand routes and establish code-sharing agreements with U.S. carriers. Although the rating has been reinstated, ongoing tensions or changes in regulatory approaches between Mexico and other countries, particularly the US, can create uncertainty and affect commercial agreements like joint ventures. Government decisions regarding airport infrastructure development and funding for key services like ATC also directly impact the industry.

Intense competition, particularly in the domestic market with the strong presence of ULCCs like Volaris and Viva Aerobus, puts pressure on airfares and profitability. While beneficial for consumers, this competitive landscape requires airlines to constantly manage costs and innovate their business models, especially through ancillary services.

Volatile fuel prices remain a significant operational challenge as jet fuel is a major cost component for airlines. Fluctuations in global oil markets directly impact airline profitability.

Finally, adapting to evolving customer expectations for digital interaction, seamless travel experiences, and ancillary services requires continuous investment in technology and service innovation. Building strong customer relationships is crucial for retention in a competitive market.

In summary, while the Mexican airline industry has shown resilience and growth, particularly in passenger numbers, it faces substantial hurdles related to infrastructure limitations, workforce shortages, global supply chain issues, the regulatory environment, intense competition, and external economic factors like fuel costs. Addressing these bottlenecks is crucial for the sustainable long-term growth and competitiveness of the sector.

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Mexico City International Airport - Wikipedia. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAI_V73OSQRJkI6b1rygcLMZ86pnRxVPNK8cEOHVERLkv5gaKcnHd17ipVKh1Uo_I03Bm4LWqSYCRgtYsRxTMjdyv-pSw-pawcMCSutwEQryeTbkZ2Qg6CVchW3UpgTXUQuBXCYbk3434SuHsUwyNEsiamK6K4M=
Mexico Lacks 500 Air Controllers, Nearly Half Its Workforce. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAI_9a6HilvuiyVv5PxKhwLzBaC-TYO9TswVYt5XI5M1IWUUtwhMweaIxZghXqsmVLZyBdeRQiftlA0NpySe7bNHpSrqlml3GhVZ_O4GKvUJ0VO1AqFflbrffQn5U8dRk49UX_g7v4Z3S6Su6FDRp5H5X_QwQWjUpOsJNYjLRhp1L6Zl-s7Lbz2UTE_3_x7DHjwlkV5uV3SJ2ugNgA==
Mexico's jet fuel demand set to shift | Latest Market News - Argus Media. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJdsShqvm-TFHmuON3FTT-IDFlwz7luErzPTtiBrotxXCrezxyYnyWHqDD2PAyQ8seZ-52Tu32zjtSMFxfTDxUWwlYBT4b8-orYOK79WBPYhNn2mjGvhdTqcDR339OZD324siWImUOMZsnnd7bPT_JBVdCA0Uye4vT6cB9LVtraJe6MqYofVfpuc-SxWi6f5Hd2i5pR67snWGIqTuLzcSsCNbvjBqNX
Mexico's jet fuel demand set to shift | Latest Market News - Argus Media. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIgkojcK6OSlYWCOS5VnXUKmShfC7ajZHWjyg7xNv5l_Bw77ys4xXsmvDeHkWf0Pvri7XScAmTquo_aCxJ3uz_PUFlFnoxFn1ruMBWePXVdFibkOtcD6ODUsCF62wkgwMAYyE9dxCCcUGwBeGamtr0fsAFtnB8KpqPi3wjakMngvle9sXPMmDimf6jlNdBNbpoRdZJ7U6Uodt8pGqHi92x6rCv0bhgd
Mexico's Top Airport Operators Net MX$98 Billion Profit. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALIlwG-eRpQ2ycB_obbFPuH7proTFLBvUDhMBPmqaQkAq6DCYo5qLxynjw-5T3LyNi1vr7hpgFj66uQpRnD4yKVO7f4CUG6YMxKWUPjcv8makhpQ5Pre717FVA9uJNOLMvHwEYlO78N75UEpYU2ZWtXJzy2HAesP-qaj-K7b9uQD5q-qw9CeAr4LnG8_HLyjPslNsJ_iCo=
MRO Market Update and Industry Trends - ICF. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJKDL2lbwgZbCe_V6N15SJI9etdcQ9hGER78fkglwzb940ANR9CfLGiTQ81yBASWvQFk35LpeAfwe0OnVfEFOHIElymythSe7prW5pfz_OSdkpfBlVQ4Ad0Xs0N85dcXKZ7lmWtLFhu1lyhOVXokNxCL7_1ZHl_lfzXH8xavSCe6CXtmibuQKE=
North American Summer 2025 Schedules: Network and Capacity Changes | Aviation Market Analysis - OAG. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJEa-AWvf_E0MVTglxodPVryHpMiUEwjb9FOfa0EydnBdzLC_OT1LXMTVERh2Q5nJqOa4G8xEx7YNrmipHQ2CpIM8-Bi345xs33OB-B3h7xCkJmc5VI9MYuAI0xQD8VpommGveHgnrz8MJyhzgdwUVCvhbOytH-BkCryM=
Pasaje aéreo batió récord en México durante 2024 - Bien Informado. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIy4qA_s5jZVb4_ZrD8Rt2rvSUvxRfhjwkS_e6DAqX-_360nQxFSyd26Prxvxvi22ArOrqSJjnx6fm-iOTT_4cCDTwXQAtYexBZLz37MkYgpIp6ZZsB8Mpectxr4U8zIzUNPR1jPoyIB2qylQC500SyD44z3nQfTocI49O1IX3z
PrimeFlight Mexico. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJFz8jlFqhhh8sp_fN-4PfBVlSaTTreLFNBSJ7VaIii4S4KdYLURDHsjJiU251a2Bx4yateatryHKqiV4UxM4fg_6IkgF2wY8PfyD2DizJuFlqKgLcFLNcl
Registra LATAM Airlines ganancias récord y mayor número de pasajeros en 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKt0qC4TzW3p7If5rxAxQOB25xizFu6b6yfr65ZagdoQab_lCSEyCa0MYmYMiQvsDHH-8wMipRKWo1n9lPAfW5Hb8XWRHaJDPkGDr0g_gnsLarePwqTUdwrOQZKqqHRCdMyUEuUppPyrhBToIVkfHNrPtwbYQ_Ou0OphSoUxYMX0sRIhmqTORFSTZnLlzKi0UjKWDysFXFHljX2dfyN7-p9KV2ZHR1m9fp-Q==
Reporta Volaris año “notable” con utilidad neta de 126 millones de dólares - Aviación 21. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIw-djK2NQJZy31W84eAk4pKPjRPGQrXEmAkWqHeNfIbK4cY4t4wBy-5lSnterhDBBi9aMFCMofUD_WXiLrniB9CYpc4u0-_l0z-tTtSgN9qS9XdJeUz8zVPVQEoZamUIEEQoUqDRURi1PszxsqRF_MMD58nPhBK5HhSqmFcOkgAkUBdlcoBHsoNKwqJ98MTsqFqtkcLEFawpNmLflHlNDHwGFzJ0Aeu9Cc2n6kyHhPIFCGlo26XvwB5YvixEbfl0QUPquHHO
Reportes trimestrales - Volaris RI. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJ1XUfJk9sieZfTdC1AsLVU9F7RGsYiflUbWt1wfYqN7rP82BPYutZIi022dPXsTMNIlHstbJhbF3Pc9CX1YFYqa2VZZqWBFa_Zk3x9GAFSQn2RUClpmP1BGWn-mMFFrRJzm1228llihqZmMFzpmtdZFUOm5CT8uFAfpLg=
Resultados | 2T 2024 - Viva Aerobus. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJWS5rMPQ5atOh8RLOu6J7bpcbt4GpDHEPOVp8zdPjyUU1FOrtKpwP-oXBWDQX3D1UTRAeS4Xy3i1kgLaGtWE9pVARh7MjrH_HGJMz3tnmcQg2laTvth1PAmTHRH7rxHx9LxJ6iYDRnq5XsYSamHrdjrB-PVSSi7RM2040vLo5oSjGgpyFmElXgyJPURkjaIvGgBx7w
Sector de Aerolíneas en México - Grupo BMV. https://vertexaisearch.cloud.google.google.com/u/1/corpora/glossary/Sector%20de%20Aerol%C3%ADneas%20en%20M%C3%A9xico%20-%20Grupo%20BMV.pdf
Strategies for airlines to improve ancillary sales - Cognizant. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJSwQPnt_xohQ837pohEHuStN6qE0JUM0bGAaPVVOCqmGL1JTZlU_GbymXlKRCaJzr3HUVHUgvgP0KtySqsqv5i_t9N2bnPpVq4HCwLIFJlnDUZ7Wm9Jv6AdNpXaJY_tviTxoNggMVSSgDYUFv_1DVQnZJcBQunVm_0W1eYtVl0H7y-FIKC64ATBxpJAfUO4vXFcAO_bx0Lm_NgKabIotE=
The most in Mexico: American Airlines adds 30th destination as part of a record-breaking schedule. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKRMpLWShPxvvoAQvRces0T8kPkNfz-UHUpSdRBJ4ZD8ZsjOuwYRi301zvTt0-DhzwxneICTopYl_TVLl6a8bO91IofpRUHg-LHxHFx0arABPgNKRecMrQ-uElhysaNLgF-cfFSy9DZZTIMR6Sanx3zjO1uXGELCELLOE9Sr5feQ3s7nZ-naLNfBs-tUrKh6AQBo7hgVV8AtF7Z6aVQxXRawWXhU2kS3Zs_VeroNA1vKtCL40hE538lB9bePYy-uVoo-98ghJi11Eqm0PJuGbTZGJd-h9hipPFNM
Top 20 Busiest Air Routes Between Mexico and the United States - Aviacionline. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALyJmX_c1US_x3SjZMTswH5G8XeyD-MoKWyuE99NCUE4ykOKI3zidTtVZMXjqGgWzyh66d_iCvxX76BJRFLkntr20tRL8GL72z4FKPHVPTcCxmKUt4IAWGO4vFYANHbKv8gO58MikMN0rEAgFMTJAr_o4XjSWAG4Dc_4oEvGcJEKVKd5yLnIoL81dagnPVqiGY=
U.S. Aviation Supply Chain Challenges: Parts Shortages, Rising Costs & Labor Resource Crunches - Magnetic Group. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKdYg9SH_K6QwLK4-BaBOv5PDsh7Ku9hRiq6YnIKFflKQwv1kPMKCqdreLeQCWZ_FMWpy6LFybRZ-FcTEFaylQp1w6srTKyPrXDGgdyBFe-eAYyf9vETsAwbxnWu3Ol-whbMRUidS3CcXkoG1BwaylXSfYtmGEciAicGrOLl-mOqZqDkgPabePklLxt_OU8-ooeIU7xiJ5EMOrbprv_J-ZprI31jTSQiIrYhSLXgQ==
Volaris 'anda volando bajo': Pierde 51 millones de dólares en primer trimestre de 2025. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAL77dfb76vYsnRUQvK34jJZqyWCJRFQo2F3haAhfHeRx-FT2eZ7B6nc5FnJelqoH6-ykbNPJ8733VJaYn5PIDWIHJj-WRV3bDDHe5p8Bzjx0odThSybqkIfFfpqqqppthgzOsOBVA0qlmYwkmdFPg6MIittSdbDkfQgmEMFWk_9dG_S7BIZAgvX6lm1VAjrO_HMoZSCRHY08q-fJ0Aeu9Cc2n6kyHhPIFCGlo26XvwB5YvixEbfl0QUPquHHO
Volaris Reporta Resultados Financieros del Cuarto Trimestre 2024: Utilidad Neta de $46 millones de dólares - Mziq. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIQJKo-wtRvjghu7cStI65I8KDOI17gPTI_-mYbavQt-SL8zDq-boAc0W-hcsJJVaUBMnXmoUt6_ukireNaNLgVg704-mdiLDm2pyqZxKd9b6rRqjZ2S9Bot48i-LtSkIz0X_FsZ9W5th74OXnQlI5c1M1MHv6yaanbyT2vFXfvnDMIsbV4dRuxiXdhJ-kr4npJP2bM5Zbt2vI8Hh3xEQtxCfU0gYsTrsPVrJo56Wb-
Volaris Reporta Resultados Financieros del Primer Trimestre 2024: Utilidad Neta de $33 millones de dólares - Mziq. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALrFSfHqmsbO31ZXyW0bbT9gwT5LLpEVWQMT9KyNQCczRVRaT817XAGL2jsZycrYUc1_yEZxSOGKiv32EVveCKmGkLtQPSRDJVXxx0dxd2H0DPpmB8Hz2ieT8ICqQRgBIksvRT4xdemtBPDl0Fto8FttbYRAfyzZEK4C6s7XLZgMmHUDZAZjOEGJB3FG9o1va0vQTlx6WT7b56KJ3zT4friyHRiucbozWJA9kTeWfTW
Viva Aerobus gana más pasajeros que Aeroméxico y Volaris en 2023 - Forbes México. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKhLi877wEUQe6m-6WRqzyoBUB6QqduTDvUEOzU3vujYY_DRBTU1Jd8v531WNlYZwvPB22S2jFOq0b48eFLpojDZ2XnyhpMLAFngCtU6dDF3vdZ71kgac6S33CKN6r1aImQ0GpHLMduckfjLwRgnKfVglXmmbpQ67Cyh3F7c7UdepL5b1fXgKznHpZIZQ==
Viva Aerobus informa reporte trimestral correspondiente al tercer trimestre del 2024 - ALNNEWS. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIFGDWyy1fnVOSYnIHXvGN9AzCNZDoSYCNzuF5S582bUiQnLn2HZYUTDq0S5sTbSh1RzazwwmMJBsyaZJATSGQT7ReIIjCx4qxAwMDExR2uN3hIPQshtRE033FvmoKgOa-0c18bHzYsiUtLTIUxO-_WtPZtlP3dyIBKhp1ULGHybrhjd9wi7FFXM3PQsTu3FLOXVrFFvwn0k7Sc4bvcxkvRBcFLP-6cZYw4QYTpsLja
World's Best Airlines For 2025. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIE6SJ6ydf7cGMoyly1VsAr3HGR445lgSVCvLA5Ku--QjjqtcTYdHC5dorxq7Qui7pwmm0t4tJEjJ1Y56Nmz99R5Zivz1eBfQN6-9P9r9smGdPfCAq9jj3UrF2OxCDV2ASphJTct0zWWBnfH4Z37gdv2BV188AsAYIWew==