Alberto Valerio: No doubt. Very clear. Just one more question on my side, about Tulum airport, is there any news on the Tulum? They already started selling tickets on that airport. Will Volaris make any deal with this airport? Thank you.
Enrique Beltranena: As I stated it in the last call, we are absolutely interested in Tulum and we may fly from Tulum. It’s in its final phase of being constructed and finished. And once we have clarity on safety and the way we can fly there, then we will start acting our structure and announcing capacity. But I think for us it’s really important to have absolute clarity on how we fly and how we approach, how we take off and the way we operate, since safety is always the first thing for us.
Alberto Valerio: Okay. Thank you very much, everyone.
Enrique Beltranena: I think, it is important for you guys also to understand. We are now the only public company in this country, okay, not only airline public company. As a result of that, we cannot publish capacity that it is not approved by the Authority or that it is not legally with Authority to reply the routes.
Operator: Thank you. One moment for our next question. Our next question comes from Neil Glynn with AIR Control Tower. You may proceed.
Neil Glynn: Good morning, everybody. If I could ask two questions. The first one following up on some of the U.S. commentary, I’m conscious there’s a lot of capacity from each of the three Mexican airlines hitting the market over the next few months. And I’m interested in your take as to the ability of that capacity to hit the ground running so to speak, or how do you think about the lag to maturity of some of those routes. Then the second question, you’ve mentioned your first foray into the JOLCO market. Your sister company, Wizz Air in Europe, has been using that market for quite some time. So, I’m interested in terms of why now for that – for the JOLCO market? And should JOLCO’s play a bigger role for you in the future? Thank you.
Jaime Pous: I will start first with the second question, Neil. This is Jaime. Basically, in the past we hadn’t explored the JOLCO Japanese market. We did a first trip during the month of May and visit the banks and some of the players. And this is the first approach. We are dealing with engines, which is a smaller risk for an exposure for the LatAm area. Some of the Japanese investors were concerned about the LatAm market in particular due to Chapter 11 and breaches under their prior contracts from some Latin American airlines. So, I think, it’s good news that we were able, in such a short term after the visit, to being able to execute a transaction on engines. We already have the sale and leaseback for most of the planes of 2024 and 2025.
We do have some sales at the end of 2025. That it will be interesting if we can accommodate a JOLCO transaction. It is probably the cheapest money due to the tax benefit, the Japanese, would they have accelerated their possession. So, it’s good. It was helpful for us that they knew with some of the banks and investors, but we are really optimistic on the view that the Japanese investor had on the story of Volaris and where we are heading. On the first question, the line was cut, so we couldn’t hear it. If you can repeat it, please?
Neil Glynn: Sure. It was really a question about how long it takes some of this new capacity into the U.S. to perform as your existing U.S. network, given clearly there’s disparate routes being introduced, but there are three of – three Mexican airlines introducing a lot of new capacity at around the same time?
Holger Blankenstein: So, regarding the U.S. capacity, I can tell you that international new routes typically have a longer ramp up time than domestic routes. However, we are not introducing any new routes. We are adding capacity to existing markets that we already operate and that require more capacity, because we’re seeing extremely high loads in those markets. So, the ramp up time of those increased frequency is significantly lower. And we are going to be focusing on our Mexican heritage core market, which is very different to the U.S. carriers, as I already mentioned.
Neil Glynn: Many thanks.
Operator: Thank you. Excuse me, this concludes today’s question-and-answer session. I would like to invite Mr. Beltranena to proceed with his closing remarks. Please go ahead, sir.
Enrique Beltranena: Thank you very much. So, before I end the call, I want to specially thank our ambassadors who have been working hard again to optimize our operations in light of these engine inspections and changing schedules and changing reservations and accommodating to the new environment. As always, I want to thank our Board of Directors, investors, bankers, lessors, and suppliers for their unwavering commitment and support. But let me tell you something, I remain really positive of the way we can manage this situation. And I look forward to addressing you all again in the next future. Thank you very much. Thank you, operator. Thank you, everybody.
Operator: Thank you. This concludes the Volaris conference call for today. Thank you very much for your participation, and have a nice day.
