The trading prices for the ADSs and our Series A shares may fluctuate significantly.
Future trading prices of the ADSs or Series A shares may be volatile, and could be subject to wide fluctuations in response to various factors, including:
•
changes in the market valuation of companies that provide similar services;
•
economic, regulatory, political and market conditions in Mexico, the United States and other countries;
•
industry conditions or trends;
•
availability of routes and airport space;
•
the introduction of new services by us or by our competitors;
•
our historical and anticipated quarterly and annual operating results;
•
variations between our actual or anticipated results and analyst and investor expectations;
•
announcements by us or others and developments affecting our business;
•
changes in technology affecting our aircraft;
•
announcements, results or actions taken by our competitors;
•
investors’ perceptions of our company or the services we provide;
•
changes in financial or economic estimates by securities analysts;
•
our announcement of significant transactions or capital commitments;
•
currency devaluations and imposition of capital controls;
•
additions or departures of key management;
•
future sales of the ADSs and Series A shares;
•
strategic actions by us or our competitors, such as acquisitions or restructurings;
•
accidents, health concerns and other events affecting airline operations;
•
media reports and publications about the safety of our aircraft or the aircraft type we operate;
21
Table of Contents
•
changes in the price of fuel;
•
announcements concerning the availability of the type of aircraft we use;
•
changes in financial estimates or recommendations by securities analysts or failure to meet analysts’ performance expectations; or
•
sales of our common stock or other actions by investors with significant shareholdings.
