Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) Q4 2024 Earnings Call

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decrease in 2024, with a full year down 13%. Domestic capacity was significantly impacted, declining by 22% in 2024. Although it is projected to increase in 2025, it will remain around 10% below 2023 levels. Mexico to the US is the strongest performing region for Volaris with a 16% growth in 2024 and rational growth projected into 2025. Other regions like Mexico to Central America and Central America to the US and intra-Central America were highly volatile through much of 2024 but we are seeing good yields following rationalized capacity and are monitoring the Central American market for additional opportunities. Importantly, we now continue to evolve our network. In 2024, we optimized slot availability at Mexico City International Airport and strategically shifted capacity from the domestic market to the U.S. market following Mexico's Category 1 upgrade. At the end of 2024, about 40% of our capacity was in the international market. We recently launched new routes for sale covering core domestic cities as well as routes to California and Texas. We remain focused on flying in profitable markets and continue to leverage our entire network. For the quarter, our ASMs were down only 5% versus the fourth quarter of 2023, which included the first groundings of GTF-related aircraft. We delivered an outstanding schedule during the peak holiday season despite severe weather in Chicago and Tijuana, registering a 99.2% schedule completion. On-time performance within 15 minutes was 82.2%, up nearly 8 percentage points from last year. In the fourth quarter, we restarted growth of our presence in core Volaris markets of Guadalajara and Tijuana with additional frequencies in those profitable markets. We also improved connectivity between our core markets and the city of Monterey. Du...