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Steve Trent

Steve Trent

Managing Director and Senior Equity Analyst at Citigroup Inc.

New York, NY, US

Steve Trent is a Managing Director and Senior Equity Analyst at Citi Research, specializing in coverage of the Americas Airlines and Latin Transports sectors with a history of also covering Latin America cement and construction. He has covered major carriers and transport firms throughout the Americas, achieving repeated recognition as the #1 ranked Airline stock picker by StarMine in 2020, multiple Institutional Investor rankings including Runner-Up in the Latin America transport sector from 2018 to 2021, and a #3 ranking in the II All Brazil poll for transports in 2007. Steve began his career at Banc of America Securities before joining Citi in 1999, and has received several top-five industry survey rankings, such as #1 and #2 in the Greenwich Survey for Latin America transportation. He holds an MBA from the Tuck School of Business at Dartmouth College and graduated magna cum laude with a BA from the University of Pennsylvania.

Steve Trent's questions to Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) leadership

Question · Q2 2025

Steve Trent from Citi asked about the potential financial impact of the 2026 World Cup and whether the potential cancellation of a competitor's joint business agreement by the US DOT could create an opportunity for Volaris.

Answer

EVP Holger Blankenstein identified the World Cup as a tailwind, noting Volaris's strong connectivity to host cities and the possibility of using external lift. President & CEO Enrique Javier Beltranena Mejicano expressed confidence that the U.S. and Mexican governments will reach a mutually beneficial agreement on the regulatory matter, stating it is not a Category 2 downgrade situation.

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