VivaAerobus (VB, Monterrey Mariano Escobedo) has reached an undisclosed compensation agreement with Pratt & Whitney for the ongoing geared turbofan (GTF) engine recalls that have plagued its operations, parking nearly 28% of its fleet during the second quarter of 2024.
The Mexican LCC recently reported total operating expenses of USD530 million during the second quarter. Within this figure, it said that “a portion of the compensation from Pratt & Whitney GTF engines reliability issues” has been included.
During the period, VivaAerobus had an average of 23.4 A320neo Family aircraft on the ground related to the engine reliability issues. To mitigate the impact of the recall on its network, Viva said it has been “extending leases, taking contracted new deliveries, and sourcing short- and medium-term capacity.” This includes wet-leasing in twenty A320-200s, all from Avion Express Malta (4X, Malta International). It is an entirely different strategy compared to local ULCC rival Volaris (Y4, México City International), which has also been impacted by the groundings but has opted against using ACMI for extra capacity.
VivaAerobus’s in-house fleet comprises 84 aircraft, including twenty-five A320-200s, twenty-two A320-200Ns, ten A321-200s, and twenty-eight A321-200NX.
It posted a net profit of USD34 million for the quarter, representing a 38.4% increase over the same period last year. Over the first six months of the year, it posted a USD89.3 million net profit.
