Mexican ultra low-cost carrier (ULCC) Volaris posted a first-quarter net loss of MXP370 million ($28.3 million), widened from a MXP65 million net loss in the year-ago period. “Market conditions were very difficult,” Volaris CEO Enrique Beltranena said in a statement, citing sluggish Mexican economic growth, weak demand and exchange rate volatility. “While I am disappointed in the quarter’s financial results, we responded well to the challenges,” he said. ...

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